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Apple beats the Street, revenue surges

Apple (NASDAQ: AAPL) has reported fiscal first-quarter revenue of $46.33 billion, thrashing the average Wall Street analyst estimate of $38.91 billion.

The results was driven by robust holiday sales of its iPhones and iPads.

The company's profit more than doubled for its first fiscal quarter to $13.1 billion, or $13.87 a share, while revenue jumped 73%.

Apple recorded its highest quarterly profit and revenue on the strength of iPhone and iPad sales.

This was the first quarter for Apple without its founder Steve Jobs.