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Apple reports surge in third quarter earnings


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Apple reports surge in third quarter earnings

Apple Inc. reported a surge in third-fiscal quarter earnings on Tuesday afternoon, solidly beating Wall Street's estimates. For the quarter ended June 25, Apple reported net income of $7.31 billion, or $7.79 per share, compared to net income of $3.25 billion, or $3.51 per share, for the same period the previous year. Revenue surged 82% to $28.6 billion for the quarter. Analysts had been expecting earnings of $5.80 per share on revenue of $24.9 billion, according to consensus forecasts from Thomson Reuters.

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