By Connor Hart

Apple's iPhone sales fell nearly 1% in the December quarter, though total revenue rose almost 4% to $124.3 billion, in line with analyst expectations. Net income rose 7% to $36.3 billion, slightly ahead of the $35.6 billion that Wall Street expected. The company saw better iPhone 16 sales in markets where its AI tools, called Apple Intelligence, have been launched, including the U.S., U.K., Australia and Canada. Shares rise 2.8%, to $244.20, in after-hours trading.

PPG Industries swung to a loss and posted lower revenue in the fourth quarter, dragged down by soft industrial demand. The paint and coatings company reported a net loss of $280 million, compared with a profit of $90 million, a year earlier. It notched adjusted earnings of $1.61 a share on revenue of $3.73 billion. Analysts polled by FactSet expected adjusted earnings of $1.64 on revenue of $4.05 billion. Shares fall 8%, to $112.98, in postmarket trading.

Beazer Homes' profit fell in its fiscal first quarter. The home-construction company reported a profit of $3.1 million, down from $21.7 million a year earlier. Quarterly earnings came in at 10 cents a share, missing the 31 cents a share that analysts were expecting. Chief Executive Allan Merrill said the company operated in a challenging new home sales environment during the quarter. Shares sink 11%, to $24.75, in after-hours trading.

Cipher Mining secured a $50 million private investment in a public-equity deal from SoftBank Group. The company, which develops and operates industrial-scale data centers for bitcoin mining and HPC hosting, said the investment will support its HPC data center development business. Shares climb 21%, to $5.69, in postmarket trading.

Write to Connor Hart at connor.hart@wsj.com

(END) Dow Jones Newswires

January 30, 2025 18:59 ET (23:59 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.