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Apple Profit Sets Record on Strong iPhone Sales

Apple Inc. posted a record spring-quarter profit as customers embrace new iPhones and other devices, while investors look for signs that the company’s pandemic-induced success will continue.

The tech giant earned $21.7 billion in profit for the three-month period that ended in June, the best fiscal third quarter in its 45-year history. On a per share basis, the company earned $1.30, which exceeded analysts’ expectations for $1.01. Revenue rose 36% from a year earlier to $81.4 billion, beating expectations.

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