Apple delivers record profit, seeks to allay iPhone X fears

San Francisco: Apple said its earnings in the final three months of last year set new records, with sales of its flagship iPhone X topping its expectations. The California-based technology giant reported that profit climbed to $20 billion on revenue that increased 13 per cent to $88.3 billion during the period. “We’re thrilled to report the biggest quarter in Apple’s history, with broad-based growth that included the highest revenue ever from a new iPhone lineup,” said Apple chief executive Tim Cook. “iPhone X surpassed our expectations and has been our top-selling iPhone every week since it shipped in November.” However, Apple reported that overall iPhone sales in the quarter of 77.3 million were about a million fewer than the same period a year earlier. — AFP