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Apple reports 13% gain in revenue during holiday quarter

Apple Inc. on Feb. 1 reported a 12.7% year-over-year gain in revenue for the fiscal first quarter to $88.29 billion, up from $78.35 billion in the prior-year period.

Net income was $20.07 billion, or $3.89 per share, compared to net income of $17.89 billion, or $3.36 per share. The S&P Capital IQ consensus estimate for GAAP EPS was $3.85.