Apple reported a significantly higher revenue and profit than what Wall Street analysts predicted and picked up as much as 3 percent before settling down about 1 percent in after-hour trading. Revenue from Apple rose 9 percent to $91.8 billion, beating its own guidance. That is a major change from the same period last year when its revenue outlook had to be revalued mid-quarter based on weakness in China. Apple's profits were partly powered by iPhone sales, which rose 8 percent to $55.96 billion on the strength of new iPhone models. “It was sort of a blockbuster quarter all the way around,” Apple CEO Tim Cook told CNBC’s Josh Lipton.
Indeed, the guidance range of Apple's next quarter is wider than usual, a move that Cook attributed to the confusion caused by the deadly coronavirus, which has shut down traveling across China. In recent months, investors have placed more emphasis on Apple's "Other Products" section, which includes Apple Watch and AirPods, two products Apple said during the quarter it couldn't produce enough of. Apple now has 1.5 billion active devices in use, an update from the 1.4 billion numbers that the company previously disclosed.