SAN FRANCISCO: Apple has reported a rebound in iPhone sales to lift the tech giant to record revenue in the past quarter in quarterly results that eased concerns of slowing growth. The results on Tuesday showed strong demand for Apple's iPhone 7 models launched last years, even as profits dipped 2.6 percent to US$17.9 billion. Apple shares were up more than three percent to US$125.19 in after-market trades that followed release of the earnings results. The growth promised to assuage concerns by investors that iPhone sales, which account for the bulk of Apple's revenue, were softening due to three quarters of sequential decline. "We sold more iPhones than ever before and set all-time revenue records for iPhone, services, Mac and Apple Watch."

Source: New Strait Times February 01, 2017 04:47 UTC