Apple’s iPhone Bounces Back, With a Little Help From China

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Apple generated $51.3 billion in sales from the iPhone in the second quarter, topping analyst predictions of $49 billion. Photo: Bloomberg

(Bloomberg) — Sales of Apple Inc.’s iPhone rebounded last quarter, helping the world’s most valuable company top earnings estimates and weather an industrywide downturn that has battered much of its product lineup.

Overall revenue amounted to $94.8 billion in the fiscal second quarter, Apple said Thursday, exceeding the $92.6 billion analysts predicted. Though the sales fell 2.5% in the period, the company had warned investors to expect a drop of roughly twice that.