Apple publishes the results. Strong increase in revenue from iPhone sales

Apple has stood the test of this earnings season, surpassing estimated profits and revenues, ending a solid big tech earnings season.

This result was needed to prop up Apple's 27 percent profit this year. Investors are used to being rewarded, a Tim Cook & What. ensure that they meet investors' expectations even in this difficult macro environment. Apple also announced an additional $90 billion share buyback that will be well received by Wall Street.

CHECK: How to buy Apple shares? [Guide]

Apple revenue down but better than analysts expected

Apple posted revenue of $94,84 billion, down 3 percent from last year. on an annual basis, which was a better result than the market initially feared. Key here, however, is the solid growth in iPhone revenues, which amounted to $51,33 billion and exceeded the estimated $48,97 billion.

A key driver for Apple's continued growth is China, and revenue has shown signs of recovery as the world's second largest economy reopened - a huge boost.

It certainly won't go without problems for Apple, and while there may be some question marks about demand for the full year, Apple's ecosystem is solid. With 975 million paid subscriptions across all its platforms, consumer loyalty, new products and services should continue to drive demand.

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