Apple reports record $20 bn profit, iPhone X sales 'better than expected'

Apple today reported a $20 billion profit in a record-setting quarter and said sales of its newest iPhone X smartphone were better than expected.
Revenue in the final three months of last year increased 13 per cent to $88.3 billion, according to the California- based technology giant.

"We're thrilled to report the biggest quarter in Apple's history, with broad-based growth that included the highest revenue ever from a new iPhone lineup," said Apple chief executive Tim Cook.
"iPhone X surpassed our expectations and has been our top-selling iPhone every week since it shipped in November."

However, Apple reported that overall iPhone sales in the quarter 77.3 million from were about a million fewer than the same period a year earlier.