FILE - The iPhone 17 Pro is displayed during an announcement of new products at Apple Park on Tuesday, Sept. 9, 2025, in Cupertino, Calif. (AP Photo/Godofredo A. Vásquez, File)
U.S. tech behemoths Apple and Amazon reported quarterly results that exceeded Wall Street expectations, driven by resilient demand and strong performance in their core businesses.
Apple reported profit of $27.5 billion in the recently ended quarter, powered by iPhone and services revenue.
The net income, along with revenue of $102.5 billion, beat market expectations.
Overall sales of iPhones, the heart of Apple's business, fell shy of market expectations, bringing in $49 billion in an increase from the same quarter last year.
Apple's services business, which sells digital content and subscriptions to users of its coveted gadgets, generated $28.8 billion in revenue, an increase of some $3 billion from the same quarter a year earlier.
"These results come at the close of an extraordinary year for Apple in which we achieved an all-time revenue record of $416 billion for the fiscal year," Cook said.
Cook predicted that the current fiscal quarter would be the best ever for Apple.
Amazon posted higher fiscal third quarter profit and sales compared with a year ago, fueled by accelerating growth in its cloud computing business and strong spending by its customers.
Quarterly sales rose 13 percent to $180.2 billion across the company. Net income climbed to $21.2 billion from $15.3 billion a year earlier.
Stoking investor sentiment, the company forecast fourth-quarter sales of $206-$213 billion, representing growth of 10-13 percent.
The e-commerce giant's Amazon Web Services division saw revenues jump 20 percent to $33 billion in the third quarter, marking its fastest growth rate since 2022 as companies race to build AI capabilities.
