THE NEWS WRAP: Apple reports record profits

Apple has released its third quarter financial results, reporting record revenue of $49.6 billion with a net profit of $10.7 billion.

This marks a 44.5% rise in profits over last year, with international sales now accounting for 64% of the company’s revenue.

Apple attributes much of the success to strong sales of the Mac, the newly launched Apple Watch and especially the iPhone, which saw sales rise by nearly 60%.

Apple CEO Tim Cook says it was an “amazing quarter”.

Twitter gets rid of your background

Twitter has removed users’ zany and often hilarious backgrounds that used to appear beneath their timeline and notifications.

While there was no official word from Twitter, a spokesperson confirmed to TechCrunch that the backgrounds were no more.

It’s adopting a clean and simple approach, with a boring old white background now appearing, something that will likely please potential advertisers.

Needless to say, the people are not happy. Take a look here to see Twitter’s user base collectively losing their minds.

Big Silicon Valley companies take Samsung’s side in Apple patent case

A group of companies including Facebook, Google, Dell, HP and eBay have petitioned to the federal appeals court asking a panel to review their decision ordering Samsung to turn over their profits from a handful of Apple patent infringements.

As Inside Sources reports, the group is arguing that the court’s ruling will threaten innovation and limit consumer choice.

“If allowed to stand, that decision will lead to absurd results and have a devastating impact on companies,” the petition reads.

The Dow Jones Industrial Average is down 181.12, falling 1.00% overnight to 17,919.29. The Australian dollar is currently trading at US74 cents.

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