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Apple Results: iPhone Sales Rise, Services Hits Record $25 Billion

Apple‘s bottom line took a hit from a recent European Union tax ruling, as smartphone revenue — including sales of its new AI-enabled iPhone 16 — rose 5.5% while the tech giant’s services segment turned in record revenue. The company reported revenue of $94.93 billion, up 6.1%, and net income of $14.74 billion, down 36%, for the three months ended Sept. 28. That translates to earnings per share of 97 cents for the period, which is Apple’s fourth quarter of fiscal 2024. The quarter is the first t...

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