Apple reports slower sales growth, but results top estimates

New York: Apple reported better-than-expected profits Thursday on robust consumer demand for its devices and services even as revenue growth slowed while it navigated an ongoing semiconductor supply crunch.

The technology giant reported quarterly earnings of $25 billion, up 5.8 per cent from the year-ago period as revenues rose nine percent to $97.3 billion.

Shares climbed as Apple authorized $90 billion in additional share repurchases.