Quarterly figures Apple posts high billion-euro profit despite EU back taxes
Apple posted a profit of 14.7 billion dollars in the last quarter despite the huge back tax payment in Ireland. At the same time, this was a significant decline compared to the black figures of almost 23 billion dollars a year ago.
01.11.2024, 05:04
SDA
Meanwhile, the iPhone company's turnover rose by six percent year-on-year to 94.9 billion dollars (around 87 billion euros). Apple thus exceeded analysts' expectations. However, sales in the China region fell slightly to 15 billion dollars, falling short of market expectations.
However, iPhone sales increased in all regions of the world, said CFO Luca Maestri - signaling that Apple was also able to hold its own against strong competition from domestic smartphone manufacturers in China.
With the launch of the new model, iPhone sales rose by 5.5 percent to 46.2 billion dollars in the final weeks of the quarter. The iPhone is by far the most important product for Apple. Revenues in the Mac computer and iPad tablet business also increased.
High expectations for AI functions
Apple is gradually introducing new AI functions to make iPhones and other Apple devices more useful. Some of these were introduced this week, with a further stage to follow in December, announced Apple CEO Tim Cook. In the EU, many of the functions will not be introduced until next April, as Apple took its time due to concerns about the new DMA digital law.
Meanwhile, Apple only gave a cautious forecast for the important Christmas quarter. Sales will grow in the low or mid single-digit percentage range, it said. Analysts had expected an average forecast of over six percent.
The additional payment in Ireland depressed the quarterly result by 10.2 billion dollars, as CFO Luca Maestri said. In September, Apple lost the years-long proceedings against the EU Commission. The total amount at stake was more than 14 billion dollars.
