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Apple earnings and sales beat expectations, but forecast disappoints

Apple earnings and sales beat expectations, but forecast disappoints

Apple Inc. easily beat Wall Street expectations in its most recent quarter, but the company's outlook for the next three months and concerns about the iPhone's ability to continue delivering robust sales clouded its solid earnings report. The Cupertino, Calif., company on Tuesday reported profit of $10.7 billion on revenue of $49.6 billion for its fiscal third quarter. That outpaced its results from a year earlier, when profit was $7.7 billion on revenue of $37.4 billion. The growth was fueled by record third-quarter sales of iPhones and Macs, all-time record revenue from services and what Apple called the “successful launch of Apple Watch,” although it...

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