Apple Reports $7.7 Billion Profit on Strong iPhone Sales

For Apple, the iPhone continues to be the device that makes the company tick. While top rivals like Samsung are starting to show weakness in phone sales, Apple sold 35.2 million iPhones in the third fiscal quarter, up 13 percent from the period a year ago.

Apple reported profit of $7.75 billion in the quarter that ended June 28, up from $6.9 billion in the quarter a year earlier. Revenue was $37.43 billion, up from $35.32 billion in the quarter a year ago. Healthy sales of Macs also helped fuel the growth, the company said. Apple reported selling 4.4 million Macs, up from 3.8 million in the same quarter last year, beating analysts’ expectations of about 3.9 million. The strong iPhone sales, thanks in part to a recent distribution deal with China Mobile, offset other, more disappointing results from Apple’s other signature product, the iPad.