Apple Inc. quieted fears that its gadgets have lost their edge, reporting strong demand for its iPhones and iPads, but posted its first profit drop in a decade and signaled that new products may not arrive as quickly as investors hope.

The company sold about 10 million more iPhones and iPads in the latest quarter than it did a year ago, underscoring the resilience of its franchise amid competition from Samsung Electronics Co. Sales of iPads were especially strong, with unit sales jumping 65%.

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