US tech giant Apple (NASDAQ:AAPL) have reported strong third quarter earnings, with revenue up 22% on the same period last year and record sales for their Mac computers.

The company reported a net income of $11.1 billion for Q3, labelling 2015 its most successful year ever with “record fourth quarter sales”.

Apple managed success in China’s tough smartphone market, where there is extensive competition from cheaper Asia brnads. Sales doubled to $12.5 billion and saw the Chinese market take 25 percent of overall smartphone sales.

Looking ahead to the first quarter of 2016, the company estimates a revenue between $75.5 billion and $77.5 billion.

Elsewhere in US tech stocks, shares in Twitter (NYSE:TWTR) fell 11 percent this morning on slow active user growth in the third quarter. However, the site reported revenues of $569 million, up 58% from $361 million during the same period last year.

This was the first quarterly report under the new CEO Jack Dorsey. After last quarters poor results, Twitter has cut 300 jobs and made attempts to streamline finances; however, the company has again lowered its forecast for fourth quarter revenue to between $695 and $710.


Previous articleVolkswagen posts first loss in 15 years
Next articleRoyal Dutch Shell sees £4 billion profit loss