Apple beats sales estimates with big bumps in iPhones, services

The iPhone maker is aiming to maintain high demand for the iPhone and other hardware while growing sales from services, including music and video subscriptions.

Apple Inc on Thursday reported record fiscal second-quarter sales and profit that beat Wall Street estimates as it managed chip shortages and consumers snapped up new iPhones.

(Sign up to our Technology newsletter, Today’s Cache, for insights on emerging themes at the intersection of technology, business and policy. Click here to subscribe for free.)

Sales rose 19% in the Americas and were up by single-digits in Europe and China.

Apple shares rose 2.3% in after-hours trading.

The Silicon Valley-based iPhone maker, which is the world'slargest company by market capitalisation, is aiming to maintain high demand for the iPhone and other hardware while growing sales from services, including music and video subscriptions.

The latest results show it is making ground on both goals, as it beat sales expectations for every unit beside accessories.

Apple CFO Luca Maestri in a release cited "continued strong demand for our products," and a record high for sales of services.