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Apple reports 12.7% profit growth, launches Apple Pay
Apple reports 12.7% profit growth, launches Apple Pay

Apple Inc. finished off its year in a big way, reporting a standout fourth quarter thanks to strong sales of iPhones and Macs. The Cupertino, Calif., company reported Monday that net profit rose 12.7% to $8.5 billion for the three months that ended Sept. 27. Revenue was up 12.4% to $42.1 billion. For its full year, Apple reported revenue of $182.8 billion, up 7% from fiscal 2013. Profit totaled $39.5 billion, compared with year-earlier profit of $37 billion. Chief Executive Tim Cook said in a statement that the company's fiscal 2014 was "one for the record books." The company sold 39.3 million iPhones during its fourth quarter, a 16% year-over-year increase. Apple...

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