Apple has posted its first quarterly drop in profits in 10 years, as was predicted earlier this week – but the company’s revenues were boosted by strong iPhone and iPad sales.

In the January-March quarter this year, the tech giant made a net profit of $9.5bn, down from $11.6bn last year.

Good hardware sales across its smartphone and tablet devices, however, saw Apple revenues boosted to $43.6bn. The company sold 37.4 million iPhones and 19.5 million iPads worldwide over the ...