Apple iPhone back to growth, powering strong earnings

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Apple blew past Wall Street earnings expectations Tuesday.

Powered by by a rise in iPhone sales for the first time in a year...

And soaring demand for add-ons like Airpods.

The company posted nearly $92 billion in revenue during the crucial holiday shopping season - smashing analyst expectations of about $88 billion.

Apple’s wearables - which include its AirPods and Apple Watch – hit $10.0 billion in revenue - a sharp increase from the year before.

The strong performance offset the slight revenue miss in the iPhone maker's closely watched services business, which includes its new streaming platform, Apple TV+.

Amid the outbreak of the coronavirus in China - a major market and manufacturing hub for Apple - CEO Tim Cook told CNBC that the company has shut one store in China and is restricting employee travel due to the virus.

Apple's share price has more than doubled since last year.