Apple's iPhone revenue tops estimates in John Ternus' first report as CEO, iPhone Duo supply constrained

Summary

Apple's iPhone revenue hit $57.6 billion in John Ternus' first quarterly report as CEO, surpassing analyst predictions, Forbes reported on Monday 2 November, and The Verge wrote that Apple had a record-breaking quarter for iPhone sales despite not releasing a standard model during its latest refresh, Apple saying in its fourth-quarter earnings report that it earned $57.58 billion in iPhone revenue, a 17 percent jump from the same time last year. Ternus does not have a timeline for when iPhone Duo supply constraints could lift, The Verge reported, and Apple's chief operating officer said during the earnings call that 'it's really hard to predict when supply and demand will be in balance', Business Insider reported, TechCrunch writing that Apple says iPhone Duo production is ramping up but still can't say when supply will catch up with demand.

Latest: Apple says iPhone Duo production is ramping up but still can't say when supply will catch up with demand as shipping delays stretch into next year, TechCrunch reported, Apple's chief operating officer saying during Monday's earnings call that 'it's really hard to predict when supply and demand will be in balance', according to Business Insider.

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