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AT&T profit beats as iPhone sales drop helps margins

US housing data also brightened the market mood, showing a steady recovery in the battered sector, with single-family home prices rising in February for the first time in 10 months and upward revisions to past data.

Customers at an Apple store in Toronto.
Customers at an Apple store in Toronto.
AT&T Inc reported a higher-than-expected quarterly profit on Tuesday as iPhone sales declined, reducing the amount of cash it had to pay Apple Inc and boosting its margins.
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