Apple reports loss in third quarter but iPhone sales still resilient

With investors on edge about an economic slowdown, Apple Inc. offered just enough good news to calm fears — and bought itself some time to ready a wave of new products.

The company’s fiscal third-quarter revenue and profit narrowly topped analysts’ estimates, with iPhone sales holding up better than expected. Though Chief Executive Officer Tim Cook decried a “cocktail of headwinds” hampering Apple’s business, he predicted that sales would begin to pick up in the coming months.