Apple’s revenue growth of 16% year-over-year failed to offset concerns over Services and China performance.
Apple shares declined 2.5% in extended trading after reporting third-quarter earnings of $2.02 per share, surpassing Wall Street estimates. Revenue rose 16% year-over-year for the period ending June 27, driven by strong iPhone sales.
Analysts had anticipated a softer print, but weakness in Apple’s Services segment and China market raised investor concerns. The company’s prior quarter saw revenue growth of 4%, highlighting an acceleration in the latest period.
The after-hours decline reflects market sensitivity to segment performance beyond headline numbers.