Revenue and earnings per share were both up (and over analyst expectations), and stocks have seen a modest bounce as investors jump back on the hype train.
Mr Maestri said sales from Apple Care, the company's warranty offering, were up 27 per cent versus a year ago, though the company did not disclose a dollar figure for sales.
"Our strong business performance drove revenue growth in each of our geographic segments, net income of $11.5 billion, and operating cash flow of $14.5 billion", Luca Maestri, Apple's CFO, said in a statement. More importantly, consumers kept buying more expensive iPhones this quarter, with the average sales price rising to $724, up from $606 past year. The rally came after Apple reported its earnings for the third fiscal quarter, which included the three month period from April through June.More news: MDC Alliance has won Zimbabwe elections, says proud Chamisa
In the earnings call, Cook said the growth of the iPhone across many markets has been higher than that of the smartphone industry itself.
Apple posted third-quarter revenue of $US53.3 billion and profits of $US2.34 per share, and forecast its revenue would be between $US60 billion and $US62 billion in the fourth quarter.
Apple's services business, which includes iTunes, Apple Music and iCloud among others, has been growing for years and could become the company's main revenue generator as iPhone sales plateau. The company said sales for its fiscal fourth quarter, which would include early sales of its latest devices, would be between $60 and $62 billion.
FILE PHOTO: A customer uses the new face-recognition software on the new iPhone X inside the Apple Store in Regents Street in London, Britain, November 3, 2017.More news: Colombian cartel puts $90K bounty on star sniffer dog's head
Revenue rose 17 per cent to Dollars 53.27 billion, also exceeding Street forecasts for USD 52.37 billion. Its stock increased 3 percent, leaving the company's market cap still hovering around $935 billion. Tim Cook spent an unusual amount of time focused on Apple's services division during the Q3 earnings call, and for good reason.
The firm said its £999 iPhone X - launched previous year - remained its most popular iPhone model in the quarter and had driven the higher selling prices.
Overall, revenue was up 17% year-over-year at $53.3 billion, a June quarter record.
Services revenue was US$9.5 billion, beating analyst expectations of US$9.1 billion, according to Thomson Reuters I/B/E/S.More news: India strips four million of citizenship
He said the company has had a "stellar quarter in services" with an all-time high revenue of $9.5 billion which he attributed partly to the double-digit growth in active installed base.