Apple increased sales – new iPhone behind the boost

Thursday's quarterly report from the American technology giant Apple exceeded market expectations. Despite this, the profit decreased due to a tax payment of over 100 billion kronor.

» Published: October 31 2024

Apple increased sales – new iPhone behind the boost
Photo: Jeff Chiu/AP/TT

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The profit per share amounted to 1.64 dollars, higher than the expected 1.60 dollars, reports CNBC with reference to the analysis firm LSEG.

The turnover amounted to 94.9 billion dollars, equivalent to approximately 1,011 billion kronor. Market analysts had expected a turnover of 94.6 billion dollars.

The profit after tax decreased despite this to 14.7 billion dollars or 97 cents per share compared to 23 billion or 1.47 dollars per share for the corresponding quarter last year. The reason is that the company paid off an eight-year-old tax debt of 10.2 billion dollars, linked to its operations in Ireland.

Apple delivered its latest phone, Iphone 16, in September and it is primarily in the phone segment that the company is outperforming. Sales increased by 6 percent and the turnover amounted to 46.2 billion dollars, well above analysts' expectations of 45.5 billion.

Even the smaller segments for Mac and Ipad increased by 1.7 and 7.8 percent, respectively.

The company has a broken financial year and the figures refer to the fourth quarter.

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By TTEnglish edition by Sweden Herald, adapted for local and international readers

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