Apple beats expectations in first quarter as iPhone sales rise
The flagship iPhone is on the rise, although it could be hit by Donald Trump's steep tariffs.
Skip the ad Skip the adApple reported better-than-expected first-quarter results on Thursday, boosted by recovering sales of its flagship iPhone, which could be hit by Donald Trump's steep tariffs.
Net income was $24.8 billion, up 4.8% year-over-year. On a per-share basis, it was $1.65, slightly better than the $1.62 analysts had expected, according to a consensus estimate compiled by FactSet.
Apple also expects "the majority of iPhones sold in the United States" in the second quarter to come from India, CEO Tim Cook said Thursday, which will help avoid the 145% tariffs the United States imposes on products from China. iPads, Macs, smartwatches, and AirPods (headphones) will come from Vietnam, the executive added.
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