Apple earnings: iPhone maker is weathering the financial downturn higher than fellow tech giants

New York
CNN Business
 — 

Apple beat Wall Street analysts’ sales and income expectations for the quarter ended in September, despite an otherwise bruising earnings season for tech companies and worries that demand for the newest iPhones might have been weaker-than-expected.

The tech giant posted sales of just over $90 billion during its fiscal fourth quarter, up 8% from the same period in the prior year. Profits reached $20.7 billion, a gain of just under 1% from the year-ago quarter.

“Our record September quarter results continue to demonstrate our ability to execute effectively in spite of a challenging and volatile macroeconomic backdrop,” Apple CFO Luca Maestri said in a statement.

Apple

(AAPL) shares dipped just over 1% in after-hours trading Thursday following the report.

Sales from Apple’s products segment grew 9%…

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