Apple's first earnings report under new CEO John Ternus brought good and bad news.
Revenue climbed 12% to $114.5 billion from $102.5 billion a year earlier, topping Wall Street expectations, and the company also expects sales to grow 7% to 10% during the holiday season.
But the upbeat numbers were not enough to reassure investors. Shares fell after Ternus flagged rising memory costs and higher spending on Siri AI as pressures on profit margins.