Apple reports sagging iPhone sales in China as first-quarter earnings barely beat Wall Street's expectations

Apple slightly beat analysts' expectations in its first-quarter earnings for fiscal year 2025 on Thursday. The iPhone-maker's revenue rose by 4%, coming in at 124.30bn, barely above estimates of 124.12bn. Earnings per share were 2.40, just ahead of analysts' expectations of 2.35. Shares rose more than 8% in extended trading after Apple's CEO, Tim Cook, indicated in an earnings call on Thursday that the company was on the trajectory for revenue growth next quarter. Investors have been concerned about decreasing iPhone sales in China, the world's biggest smartphone market, as domestic rivals like Huawei have grown.