Apple reports massive spike in iPhone revenue, particularly in China

The iPhone maker reported first-quarter earnings after market close

Apple released its first quarter earnings on Thursday, exceeding Wall Street’s expectations and seeing its revenue skyrocket 16% from the same time last year.

“Apple is proud to report a remarkable, record-breaking quarter, with revenue of $143.8bn,” Tim Cook, the company’s CEO, said in a statement. “iPhone had its best-ever quarter driven by unprecedented demand, with all-time records across every geographic segment.”

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