Apple outpaces sales expectations as it continues to battle surging memory chip costs

Apple beat its quarterly financial expectations in Chief Executive John Ternus’ first earnings report since taking over Tim Cook’s post in September, though the company continues to be pressured by a surge in memory chip costs. The iPhone maker posted fourth-quarter revenue of $114.5 billion, more than what Wall Street analysts had expected. Its profit was $30.7 billion. iPhone revenue came in at $57.58 billion. Both figures were also higher than projections. Its services revenue, which includes iCloud, the App Store, and other services, was $31.57 billion.

Source: Fortune Crypto