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Apple handily beats quarterly expectations

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Apple's quarterly revenue and profits smashed Wall Street expectations.

The company reported earnings per share of $4.99, beating estimates of $4.55 per share. Revenue of $91.8 billion was higher than the $88.5 billion projection from analysts.

During the quarter, iPhone revenue was $56 billion, compared with the estimate of $51.6 billion.

Read more from CNBC.

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