Apple Reports Massive Quarter
Apple Is Nearly the Largest Telecom Supplier
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Apple Inc.’s iPhone is reeling in buyers in China, sending quarterly profit up by 33 percent and fueling a surge in growth that led the company to boost its capital-return program by $70 billion.
Net income in the period that ended in March was $13.6 billion, or $2.33 a share, and revenue rose 27 percent to $58 billion, the Cupertino, California-based company said Monday. IPhone sales in greater China outpaced those in the U.S. for the first time, helped by the Chinese New Year celebration, Apple said.