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Apple Sales, Profit Top Estimates as IPhone Still Strong

Apple Inc. took dual steps to reassure investors concerned with its growth prospects, reporting a surge in iPhone sales and giving its shareholder payout program a $30 billion boost.

The world’s most valuable company said fiscal second-quarter profit grew 7 percent to $10.2 billion and sales rose 4.7 percent to $45.6 billion after making the iPhone available through China’s largest wireless carrier, China Mobile Ltd., earlier this year. IPhone sales were 43.7 million, topping analysts’ estimates of 37.7 million, the company said in a statement today.