Apple reports robust demand for iPhone 16 even as overall sales in China slow

Apple reported strong demand for the iPhone 16 in its quarterly earnings report on Thursday, though overall sales in China slightly decreased year-over-year. The company reported 94.9bn in revenue, up 6% year-over-year, and 1.64 in earnings per share (EPS). The company's earnings slightly beat Wall Street projections of 94.4bn in sales and an EPS of 1.60. The company saw 46.2bn in revenue from iPhone sales, up from 43.8bn year-over-year. Fourth-quarter revenue from its services division, which include subscriptions, increased from 22.31bn to 24.97bn year-over-year.