Apple Inc. reported revenue and profit that beat analysts’ estimates and projected continued sales momentum, calming concern about demand for the iPhone, its most-important product. The Cupertino, California-based company also unveiled a new plan to return more money to shareholders and said services sales jumped 31 per cent. The stock had fallen in recent weeks on concern about demand for the flagship iPhone X. Apple suppliers also climbed following the results. Apple revenue rose 16 per cent to $61.1 billion in the fiscal second quarter. Analysts expected sales of $60.9 billion and earnings per share of $2.64, according to data compiled by Bloomberg.

Source: thestar May 01, 2018 22:52 UTC