New York (CNN Business) More than 14 years after they were first introduced, iPhones are still very much in demand. Apple AAPL on Tuesday announced a massive earnings beat for the three months ended June 26, thanks to a nearly 50% year-over-year jump in iPhone sales to $39.6 billion. The company posted total quarterly revenue increased 36% to $81.4 billion — a record for the June quarter and nearly $8 billion above analyst expectations. Others were concerned that the global chip shortage could cause a slowdown in sales of Apple products. The company posted double-digit revenue growth in each of its product categories.

Source: CNN July 27, 2021 22:15 UTC