Apple Posts Big Sales Beat on iPhone Demand, China Strength

Good morning. Apple’s third-quarter revenue crushes estimates. Eli Lilly lets down investors after a head-to-head drug trial. And a renowned designer who logs 250,000 miles a year shares some unique travel tips. Listen to the day’s top stories.

Apple’s quarterly revenue handily topped analysts’ estimates, boosted by surprisingly strong sales of the iPhone and products in China. The results were solid enough to ease concerns about tariffs and the tech giant’s struggles with artificial intelligence. It also forecast mid-to-high single-digit revenue growth in the September quarter. Amazon wasn’t so lucky. Its projected operating income for the current quarter worried investors that the company is burning too much cash to keep pace in the AI race.