• Home
  • Money
  • Apple increases revenue but decreases net profit
Money

Apple increases revenue but decreases net profit

November 1, 20241 Mins Read

Revenue of Apple, one of the technology giants in the United States, increased by 6% annually in the July-September period. The company’s revenue rose by 6% annually to $94.9 billion. Apple had generated approximately $89.5 billion in revenue in the same period last year. Apple’s revenue exceeded market expectations. However, the company’s net profit decreased by 35.8% to $14.7 billion in the same period. Last year, the company had announced a profit of $22.9 billion in the same period. Apple’s earnings per share also dropped from $1.47 to 97 cents in this period. The drop in Apple’s profit was influenced by the European court decision that forced the company to pay more than $14 billion in taxes to Ireland. During the same period, there was an increase in iPhone, Mac, and iPad sales for Apple. iPhone sales increased by 5.5% annually to $46.2 billion in the July-September period. iPad sales increased by 7.9% to $6.9 billion, and Mac sales increased by 1.7% to $7.7 billion.

Comments are closed

Related News