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Apple Posts Record Profits After Surging iPhone Sales

An Apple iPhone sits on a box on January 27, 2015 in San Anselmo, California. Apple Inc. reported huge first quarter earnings that were fueled by strong iPhone sales with revenue of $74.6 billion compared to $57.6 billion one year ago. (Photo Illustration by Justin Sullivan/Getty Images)
An Apple iPhone sits on a box on January 27, 2015 in San Anselmo, California. Apple Inc. reported huge first quarter earnings that were fueled by strong iPhone sales with revenue of $74.6 billion compared to $57.6 billion one year ago. (Photo Illustration by Justin Sullivan/Getty Images)

Apple reported today that it sold 74.5 million iPhones in its holiday quarter, besting analyst predictions of 69 million in sales, and pushing profits to a record $18 billion.

One of the factors driving the growth was increased sales in China– Apple reported that revenue in China was up 70 percent from the same period a year ago, to $16.1 billion.

CNN business reporter Maggie Lake joins Here & Now’s Jeremy Hobson with details.

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