SUMMARY
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Apple quarterly profit dipped for the first time in nearly a decade despite a rise in revenue from the same period a year earlier. The company posted a profit of US$9.5 billion on revenue of $43.6 billion in the first 3 months of this year, compared to a profit of $11.6 billion on $39.2 billion in the same quarter in 2012. The number of iPhones sold in the quarter rose to 37.4 million from 35.1 million during the same quarter last year. The number of iPads also sold surged to 19.5 million from 11.8 million a year earlier. But its gross margin, or the amount of money it makes in profit from its devices, shrank to 37.5% from 47.5%.
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