Apple profits surge to $20b in record quarter

San Francisco: Apple on Thursday said it made $20 billion (Dh73.5 billion) profit in a record-setting quarter and said sales of its newest iPhone X smartphone were better than expected.

Revenue in the final three months of last year increased 13 per cent to $88.3 billion, according to the California-based technology giant.

“We’re thrilled to report the biggest quarter in Apple’s history, with broad-based growth that included the highest revenue ever from a new iPhone lineup,” said Apple chief executive Tim Cook.

“iPhone X surpassed our expectations and has been our top-selling iPhone every week since it shipped in November.”