Photo: Apple

Buoyed by strong iPhone sales and a growing services business, Apple reported record quarterly revenue and profits that were well ahead of estimates and its own forecasts. Apple also projected revenue for the current quarter ahead of many analysts' expectations, sending shares higher.

Why it matters: The October-to-December quarter includes the all-important holiday shopping season, and Apple's results show the resiliency of its business.

Apple posted per-share earnings of $4.99, on revenue of $91.8 billion, up 9% from a year earlier. The company had been expected to post per-share earnings of $4.54, on revenue of around $88.38 billion, according to consensus estimates.

Geographically, sales rose in every region except Japan. Greater China sales, which had dropped for several quarters, totaled $13.58 billion, up from $13.17 billion a year ago.

Meanwhile: Apple CEO Tim Cook told CNBC that the company has shut one store in China and restricted employee travel amid the coronavirus outbreak.

For the current quarter, which runs through March, Apple said it expects revenue between $63 billion and $67 billion. CFO Luca Maestri said the company gave a wider-than-usual range due to uncertainty related to the impact of the virus.

Apple shares rose after hours following the report. The stock was recently trading at $324.99, up $7.30, or 2.3%.

By the numbers:

  • iPhone sales: $55.957 billion, up 8% from a year ago
  • iPad sales: $5.97 billion
  • Mac sales: $7.16 billion
  • Services: $12.71 billion, up 17%
  • Wearables and accessories: $10.01 billion

Go deeper

Delta CEO: Trump administration should issue mask mandate for air travel

Photo: Al Seib/Los Angeles Times via Getty Images

Delta CEO Ed Bastian on Friday told CNN that he believes the Trump administration should move to require the use of face masks during air travel amid a surge in coronavirus cases.

The big picture: Delta already requires passengers to wear masks during its flights, but Bastian says it can be difficult to enforce that directive if passengers refuse — and he's not sure if other airlines would be on board.

Trump's outdoor New Hampshire rally postponed due to weather

Photo: Win McNamee/Getty Images

President Trump's outdoor campaign rally in Portsmouth, N.H., slated to take place on Saturday, was postponed on Friday due to weather from Tropical Storm Fay, a senior White House official confirmed to Axios.

The state of play: Press Secretary Kayleigh McEnany told reporters on Air Force One that the event would take place in "a week or two" instead. The outdoor rally — which had encouraged the use of face masks — was scheduled after sparse attendance at Trump's indoor comeback to the campaign trail in Tulsa.

Updated 2 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 1 p.m. ET: 12,333,740 — Total deaths: 556,110 — Total recoveries — 6,781,353Map.
  2. U.S.: Total confirmed cases as of 1 p.m. ET: 3,140,840 — Total deaths: 133,542 — Total recoveries: 969,111 — Total tested: 38,032,966Map.
  3. Public health: The U.S.' new default strategy: herd immunity
  4. ✈️ Travel: Delta CEO says Trump administration should issue mask mandate for air travelAirlines say air quality, cleanliness lower risk.
  5. Sports: Sen. Richard Blumenthal calls on colleges to cancel fall sports.