Apple's fiscal third quarter revenue beats expectations, with its shares falling more than 4% in after-hours trading.

47 minutes ago

Apple released its third-quarter financial results after U.S. stock market hours. The company’s revenue reached $109.4 billion, beating expectations and rising roughly 16% year-over-year. iPhone and Mac sales were strong, but its fourth-quarter revenue guidance came in below expectations due to memory shortages, while revenue from China and services also missed forecasts, leading to a post-market decline in its share price. This was Tim Cook’s final earnings release as Apple’s CEO, with John Ternus set to take over the role in September. However, the results failed to lift its share price. According to market data from BIT (bit.com), Apple’s shares closed down 1.4% in regular trading ahead of the earnings announcement, and extended losses to over 4% in after-hours trading following the release.

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