Apple Inc. turned in another whopper of a quarter, with more than $10 billion in profit, but sales of its latest smartphone — the iPhone 6 — disappointed by failing to meet the most optimistic analyst projections. It’s a product that Apple has increasingly relied on, even as it looks to gain momentum with its newest gadget, the Apple Watch.
Apple posted earnings of $10.7 billion on $49.6 billion in revenue, edging past analyst projections of $10.3 billion in profit and $49 billion in revenue. Apple also beat its own guidance from April, which placed revenue at $46 billion to $48 billion and gross margins at 38.5 percent to 39.5 percent.