Apple slips even as Q3 results top estimates, aided by Services strength
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Apple (NASDAQ:AAPL) shares slipped nearly 2% in extended-hours trading even as the U.S. tech giant posted third-quarter results that largely topped expectations.
For the period ending July 1, Apple (AAPL) earned $1.26 per share on $81.8B in revenue. 
Cupertino, California-based Apple (AAPL) generated $39.7B in iPhone-related revenue, while iPad and Services came in at $5.8 and $21.2B, respectively.
The company ended the period with more than 1B subscriptions, CEO Tim Cook said in a statement.
Wearable, Home and Accessories revenue clocked in at $8.28B, compared to $8.08B in the year-ago quarter. Mac sales dipped 7.3% year-over-year to $6.8B.
Analysts were expecting the company to earn $1.18 per share on $81.8B in revenue.
Apple (AAPL) saw some weakness in the Americas, as revenue came in at $35.38B during the period, down from $37.47B in the year-ago quarter. Conversely, China, which has had hiccups restarting its economy after COVID-19 related lockdowns, generated $15.75B in revenue during the period, compared to $14.6B in the year-ago quarter.
Europe accounted for $20.2B in revenue during the period, while Japan and Rest of Asia Pacific attributed $4.82B and $5.63B, respectively.
In addition to the quarterly results, Apple (AAPL) also declared a 24 cent dividend, in-line with its previous quarterly payout.
The company is holding a conference call at 5 p.m. EST to discuss the results.
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