Apple revenues up but net profits down in fourth quarter
Apple wrapped up its 2013 fiscal year Monday with a $7.5 billion profit on $37.5 billion in revenue, reporting accelerating growth buttressed by strong iPhone sales and growth in the Chinese market. Compared to the same quarter a year ago, iPhone sales were up, iPad sales were flat, and Mac sales were down.
Apple announced that its revenues in its fiscal fourth quarter (ending September 28) were up four percent compared to the same quarter in 2012. That was good enough to once again beat most analyst estimates. But year-over-year profits fell eight percent.
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