Apple reported $93 billion in net profit for its fiscal year ending last month.
Topline
Apple reported better than expected revenue Thursday as investors eagerly await evidence of financial growth amid Apple’s push to bring generative artificial intelligence to iPhones, though a major tax ruling weighed on the company’s profits.Key Facts
Apple brought in $94.9 billion in sales for the quarter ending last month, exceeding average analyst estimates of $94.5 billion and $1.64 earnings per share excluding the one-time tax charge, topping forecasts of $1.60 EPS, according to FactSet.
The Silicon Valley giant’s revenue rose 4% year-over-year and operating profits climbed 10%, though Apple’s net income notched an unexpected decline of 36% tied to a European Union ruling against the company over a tax dispute.
Apple reported $46.2 billion of iPhone revenue for the first quarter including early numbers from the iPhone 16 released Sept. 20, topping Wall Street estimates of $45.2 billion in smartphone sales.
