Apple Beats Wall Street Expectations with 5% Revenue Growth, Driven by New iPad Models

Apple reported quarterly earnings after the bell on Thursday that beat Wall Street expectations, with overall revenue rising 5%. iPhone revenue beat estimates despite declining about 1% year-over-year. iPad revenue jumped nearly 24%, spurred by new models released during the quarter. Apple's Services business, which includes hardware warranties, Google revenue, cloud storage, and content subscriptions, is a key growth area with significant sales growth in line with forecasts. Apple's sales in greater China, including Taiwan and Hong Kong, declined amid increasing competition from local companies like Huawei.