Apple revenues jump

Apple to miss revenue guidance as coronavirus hits

Revenues were up 11% at Apple to a record of $123.9bn.

The group beat analyst expectations, which were $118.7bn over the Christmas period.

The group sold a large number of iPhones and released new products ahead of Christmas.

“Despite the uncertainty of the world, there is one thing of which I am certain: Apple will continue to improve every day and in every way to deliver on the promise of technology at its best,” said Tim Cook.

Luca Maestri, Apple’s CFO, commented: “The very strong customer response to our recent launch of new products and services drove double-digit growth in revenue and earnings, and helped set an all-time high for our installed base of active devices.”