Apple reported iPhone sales that fell shy of expectations last night amid fears over the impact of a sustained economic downturn.
The technology group’s total profit and revenue exceeded forecasts on Wall Street for the last quarter.
Its shares came under pressure during out-of-hours trading in New York, however, falling into the red before recovering to trade up by 0.8 per cent, or $1.10, at $145.90.
Sales of the iPhone, which typically generate half of Apple’s business, rose to $42.6 billion in the quarter, shy of analysts’ projections of $43.2 billion.
Overall revenue at Apple rose 8.1 per cent to $90.15 billion during the three months to September. Net income advanced 0.8 per cent to $20.7 billion.