Apple Beats Profit Forecasts Amid Growth In Services, and Wearables devices

Apple on Wednesday reported stronger-than-expected profits for the past quarter, fueled by growth in digital services and wearables that helped offset slower iPhone sales.

Profit in the quarter ending in September dipped four percent from a year ago to $13.7 billion while revenues edged up two percent to $64 billion.

Apple, set to launch a new streaming television service this week, saw strong revenue gains in its services segment, which includes music, digital payments and software, and in its segment for wearables and accessories that includes its Home Pod, Apple Watch and ear buds.

Chief executive Tim Cook said Apple saw its best-ever revenue gains for the fiscal fourth quarter period.

"There were no blemishes in the quarter with Cook & Co. delivering a masterpiece quarter despite its back against the wall with the company the poster child of the US/China trade battle," Wedbush analyst Dan Ives said in a note to investors.