Strong iPhone sales buoy Apple, shares climb

Sales of Apple’s iPhone trumped Wall Street estimates after US shipments soared 51 per cent in the third quarter, lifting its stock 5 per cent even as profit fell.

The world’s largest technology company said profit fell 22 per cent as gross margins slid below 37 per cent from more than 42 per cent in the year-ago quarter.

via Business feed http://www.scmp.com/business/companies/article/1289596/strong-iphone-sales-buoy-apple-shares-climb