Apple profits up on iPhone sales

Apple has reported quarterly profits of $7.75bn (£4.5bn) - up 12% on the same period last year.

The company sold 35.2 million iPhones from March to June, an increase of 13% from the same time in 2013.

However, sales of its iPad tablet computer fell for the second quarter in a row, down 9% to 13.3 million.

BBC Business Reporter Michelle Fleury in New York highlighted some of the key points from the earnings release.