.August 2, 2024 12:52 PM

Apple (NASDAQ:AAPL) exceeded Wall Street expectations in its third-quarter results, with a boost in services revenue offsetting a dip in iPhone sales due to competition in China. The company reported an EPS of $1.40 on revenue of $85.8 billion, surpassing analyst forecasts of $1.35 EPS and $84.45 billion revenue. Revenue increased by 5%, driven by strong growth in the services segment. iPhone sales decreased slightly to $39.30 billion but still beat expectations. The services segment reached a record high, with revenue climbing 14% to $24.21 billion, surpassing estimates. In China, sales declined by 6.5% to $14.72 billion due to increased competition.