Apple saw its revenue drop 4% year over year in the first quarter, the company reported Thursday. But revenue and earnings dropped less than analysts had expected, setting off a surge in the share price.
In a conference call with investors and analysts after the financial results had been announced, CEO Tim Cook and CFO Luca Maestri talked about this being the quarter of the “challenging compare,” were upbeat about iPhone sales in China, bragged about the M3 MacBook Air, and fended off questions about the company’s AI plans.