CUPERTINO (CNN) — It appears iPhone sales really are on the mend.

Apple posted what it calls an “all-time record” earnings for the three months ending December — with quarterly revenue of $91.8 billion, up 9% from the same period last year and well above Wall Street analysts’ $88.5 billion projection.

The record performance was driven by strong iPhone sales during the crucial holiday season, CEO Tim Cook said in the company’s earnings release Tuesday. It is an important comeback after last year’s slumping iPhone demand.

Sales for the services and wearables segments of Apple’s business, which many herald as the future of the company, also contributed to the successful quarter.

Apple’s stock rose as much as 2.7% in after-hours trading Tuesday, after already having closed the day up 2.8%.

© Copyright 2020 CNN. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.

Comments