Apple reports record annual profit with net income of $53.4bn

Apple (AAPL) reports the biggest annual profit in its history but its outlook was muted. The company’s profit was $11.1 billion for its fiscal 4th quarter, up 31% from a year ago. Revenue was $51 billion, p 22% from last year. The results exceeded Wall Street estimates. Apple’s performance was boosted by the sales of the iPhone. Source TheStreet

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