Apple Q3 earnings beat estimates: profit at $ 23.4 billion despite tariff winds, iPhone sales are rising | Company Business News

Apple reported a $ 23.4 billion quarterly gain on Thursday, and forecasts of forecasts despite concerns about the effects of US rates on its supply chain. The turnover was $ 94 billion for the usually slow quarter ending in June, the iPhone manufacturer said. “Apple is proud to report an income record in June quarter with a double-digit growth in iPhone, Mac and services and growth around the world, in every geographical segment,” said Apple CEO Tim Cook. Apple shares rose by more than two percent in the post-market trade. According to Apple, turnover from iPhone sales during the quarter was $ 44.6 billion, compared to $ 39.3 billion in the same period. According to Market-Tracker Canalys, the global shipping of smartphones has dropped slightly to 288.9 million units. Samsung was the biggest seller and sent 57.5 million smartphones, while Apple finished second with iPhone shipping with two percent at 44.8 million units, Canalys reports. “Apple’s performance has shown strong resilience in the midst of fierce competition in China and a stock correction in the US, as it is adapted to the rapidly changing rates,” the market tracker said in its findings. Cook said the Trump tariffs cost $ 800 million in the quarter that just ended. Cook said on a previous earnings call that most iPhones sold in the United States will come from India, as Apple has worked to navigate US President Donald Trump’s trade war with China. India is rising, but China is still leading production, while iPhones on mainland China is still most of the US consignments, according to the market tracking, according to the Trackers. Trump has since pointed to India with a 25 percent duty to start on Friday – slightly lower than previously threatened – after the talks between Washington and New -Delhi did not bring about a trade treaty. Tit-for-Tat exchanges have seen how large US levies have been imposed on China, with Beijing setting retaliatory barriers to US imports. According to Apple, sales of iPhones on mainland China iPhone were $ 15.4 billion in the quarter, compared to $ 14.7 billion in the same period, according to Apple. Apple in Apple’s services that sells digital content and subscriptions to fans of its devices grew to $ 27.4 billion in the quarter, Apple reports.