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International Business Times
International Business Times
Business
Glenn CHAPMAN

Apple Profit Ebbs As IPhone Sales Under Pressure

Apple Huawei
Apple's increased focus on selling services and digital goods to iPhone users comes as regulators and app makers seek to loosen the tech giant's grip on the App Store (Credit: AFP)

Apple on Thursday said its quarterly profit ebbed but topped market forecasts as it announced an unprecedented $110 billion share buyback.

The iPhone maker reported a profit of $23.6 billion on $90.8 billion in revenue in the first three months of this year.

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