Apple's Third-Quarter Earnings Beat Expectations, iPhone Sales Up 22%

Apple reported revenue of $109.42 billion and earnings per share of $2.02 for the third quarter of its fiscal year, surpassing market expectations. The company's iPhone sales showed strong performance, increasing 22% compared to the same period last year. However, services revenue fell short of expectations, causing investor concern and leading to a 4% decline in the stock during trading. The weakness in services revenue indicates a slowdown in momentum for this segment, which is a key part of Apple's growth strategy. While the company's overall financial results exceeded expectations thanks to strong iPhone sales, the decline in services revenue put pressure on the stock. Analysts suggest that Apple may need to reassess the growth potential of its services segment. This is not investment advice.