Apple reports $7.7 billion profit on strong iPhone sales
SAN FRANCISCO — For Apple, the iPhone continues to be the gadget that makes the company tick. Sales for the handset grew even in a time of year when smartphone sales are expected to be slow. Apple, based in Cupertino, Calif., reported on Tuesday a profit of $7.7 billion in the fiscal third quarter that ended June 28, up from $6.9 billion in the same quarter a year earlier.