Apple meets sales estimates, but China region remains weak spot

Apple said sales were $94.93bn. Earnings of $1.64 per share, excluding the €14.4bn tax charge to Ireland, topped analyst expectations of $1.60

The early iPhone 16 results on Thursday could allay concerns that consumers would be slow to upgrade their devices this year. Picture: David Paul Morris/Bloomberg

Apple beat Wall Street sales and profit expectations on Thursday for its fiscal fourth quarter, bolstered by strong early sales of iPhone 16, a set of phones designed for new AI features that was released near the end of the quarter.

Apple said sales were $94.93bn (€87.5bn), ahead of Wall Street targets, according to LSEG.