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first quarter profits

Apple bounces on record Q1 profits

The world may be recovering from a recession that shook markets to its core but Apple has sailed through the first quarter of 2010, reporting record profits thanks to the iPhone.

The company reported net quarterly profit of $US3.4 billion, up on a year-ago’s quarterly profits of US$2.26 billion. The company’s profit and revenue is the highest all-time result for Apple.