Apple Inc. reported holiday-quarter revenue that beat Wall Street expectations on rebounding iPhone demand and surging sales of wearable devices. Services revenue came in slightly below expectations, limiting share gains. For the fiscal second quarter, Apple said sales will be between $63 billion and $67 billion. Apple generated $56 billion in revenue from the iPhone in the fiscal first quarter, up 8% from a year earlier. It’s unclear how well Apple TV+, the Apple Card credit card and the Apple Arcade gaming subscription are performing, but there have been signs of weak demand for Apple News+, the company’s digital magazine subscription.

Source: Los Angeles Times January 28, 2020 22:42 UTC