Apple profits decline in its fourth quarter despite record iPhone sales

Apple saw a decline in profit despite selling a record number of iPhones across the three month period that ended Sept. 28, the company announced in its latest fourth quarter fiscal results.

While the company experienced a rise in revenue from last year's $36 billion to $37.5 billion, overall net profit fell from $8.2 billion to $7.5 billion in the same period.

Sales of iPhones were up to 33.8 million units compared to last year's 26.9 million, while iPad sales rose to 14.1 million units with an additional 100,000 units sold compared to the previous year. Mac sales, however, saw a decline by 300,000 units to 4.6 million.

Apple's  full-year profit rang in at $37 billion, a first earnings decline in 11 years.

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