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Apple reports loss in third quarter but iPhone sales still resilient

The company's fiscal third-quarter revenue and profit narrowly topped analysts' estimates, with iPhone sales holding up better than expected

Photo: Bloomberg
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Photo: Bloomberg

Bloomberg
With investors on edge about an economic slowdown, Apple Inc. offered just enough good news to calm fears — and bought itself some time to ready a wave of new products.

The company’s fiscal third-quarter revenue and profit narrowly topped analysts’ estimates, with iPhone sales holding up better than expected. Though Chief Executive Officer Tim Cook decried a “cocktail of headwinds” hampering Apple’s business, he predicted that sales would begin to pick up in the coming months.

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First Published: Jul 30 2022 | 12:18 AM IST

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