Apple beats profit forecasts despite iPhone sales decline

Separately, Amazon reported a boost from its Prime Day sales event, but chipmaker Qualcomm shares ended 8% lower on Thursday night on tepid sales outlook 

Apple chief executive Tim Cook speaks during Apple's Worldwide Developers Conference in June 

Apple has reported sales and profit that beat expectations despite a decline in iPhone sales, with its signature device's performance in China helping it navigate a global decline in the smartphone market.

Apple said sales for its financial third quarter fell 1.4% to $81.8bn (€74.7bn) that topped analyst expectations. However, iPhone sales slightly missed estimates, but were made up for by strong sales recastin the services segment that contains Apple TV+ and by sales in China.