Apple sales rose 19 percent in the Americas and were up single digits in Europe and China.
Apple Inc on Thursday reported record fiscal second-quarter sales and profit that beat Wall Street estimates as it managed chip shortages and consumers bought new iPhones.
Sales increased 19 percent in the Americas and were up single digits in Europe and China.
Apple shares were up about 3 percent in after-hours trading.
The Silicon Valley-based iPhone maker, which is the world’s largest company by market capitalization, aims to keep demand high for iPhones and other hardware while increasing sales of services, including music and video subscriptions.
The latest results show that it is gaining ground on both targets.
Apple CFO Luca Maestri cited “continued strong demand for our products” and record service sales in a statement.
Apple’s fiscal second-quarter overall revenue was $97.3 billion, up 8.6 percent from a year ago and higher than the average analyst estimate of $93.89 billion, according to Refinitiv data.
Apple had warned that less favorable exchange rates and differing product launch times in recent quarters would dampen sales growth.
Quarterly worldwide phone sales revenue was $50.6 billion, up 5.5% from a year earlier, and above the median estimate of $47.88 billion. Services, Apple’s second-largest segment after iPhones, increased sales 17 percent to $19.8 billion, beating the median estimate of $19.71 billion.
Earning was $25 billion, or $1.52 per share, easily beating analysts’ expectations of $23.2 billion and $1.43 per share.
Apple also announced a 5 percent increase in its dividend to $0.23 per share and board approval to repurchase an additional $90 billion of stock.
Investors have been bracing for drops in consumer spending on tech gadgets and services, as the war in Ukraine and other factors drive up the cost of oil, food and other staples.
Some consumers have also poured more money into travel and entertainment outside their homes as COVID-19 outbreaks become less deadly, straining home technology budgets.
Remote work has also reduced the need for expensive high-end phones and upgrades as people travel less.
But remote work has benefited other companies.
iPad sales fell 2 percent to $7.65 billion and were still above analysts’ average estimate of $7.14 billion.
Revenue from Mac computers rose 14.7 percent to $10.4 billion, compared with estimates of $9.25 billion.
Sales of wearables, home speakers and accessories rose 12 percent to $8.8 billion, compared with estimates of $9.05 billion.
But new lockdowns in China and Taiwan, where many parts and iPhones are produced, could create new headwinds in terms of supply and demand in the current quarter.
The services business is vulnerable to antitrust sanctions in the United States, the Netherlands, South Korea, South Africa and many other countries that are weighing whether the company’s fees are too high.
Apple said it now has 825 million paying subscribers across its at least seven subscription offerings, up 40 million from 785 million last quarter. Its growth comes as rivals like Netflix Inc report subscriber losses.
Labor unrest could also hit Apple recently. More than 70 percent of the more than 100 eligible workers at an Apple store in Atlanta last week backed filing an election to become the company’s first US store to unionize.