CEO Tim Cook says Apple welcomes all Samsung switchers

Analyst on Apple: Growth as far as services

Apple CEO Tim Cook told CNBC that "it is hard to estimate" the opportunity of Samsung's Note 7 dilemma, "but we obviously welcome all switchers."

His comments came after the release of Apple's quarterly earnings results, where the company slightly beat Wall Street expectations. Apple sold 45.5 million iPhones in the quarter — analysts had expected sales of 44.8 million iPhones.

The company stands to benefit from potential customer defections from Samsung's Note 7 phone, which the company recalled after reports that the device was exploding, likely due to a defective battery.

The iPhone maker reported earnings per share of $1.67 per share, just above the $1.66 expected by a Thomson Reuters consensus estimate. Revenues came in at $46.90 billion, just shy of the $46.94 billion expected.

Here is the latest on Apple's earnings.

With reporting from CNBC's Josh Lipton and Anita Balakrishnan.


Tim Cook, chief executive officer of Apple Inc.
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