Apple profits soared by a fifth as its flagship iPhone X hit stores in Asia Friday, with the company predicting bumper sales despite its eye-watering price tag.
Net profit rose 19 percent from a year ago to $10.7 billion in the fiscal fourth quarter to September 30, Apple said. Revenues were up 12 percent to $52.6 billion.
Release of the earnings figures pushed Apple shares up more than three percent to $173.20 and came as iPhone X models began hitting the market in some time zones.
The flagship handset features facial recognition, cordless charging and an edge-to-edge screen made of organic light-emitting diodes used in high-end televisions.
It marks the 10th anniversary of the first iPhone release and hits about 50 markets around the world Friday.
