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iPhone Sales Add To Apple's Profits

Apr 25, 2012
Originally published on April 25, 2012 8:10 am
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STEVE INSKEEP, HOST:

NPR's business news starts with huge earnings for Apple.

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INSKEEP: Facebook profits may have dropped off for the moment, but another big tech firm says it's doing fine. Apple announced higher-than-expected earnings for the most recent quarter - profits nearly doubled over last year. Apple's stock is back up, after falling in recent weeks over fears of a slowdown in iPhone sales. Those fears proved unfounded. IPhone and iPads sales beat company estimates - especially in China - which now accounts for one-fifth of Apple's revenues. Transcript provided by NPR, Copyright NPR.