SAN JOSE: Apple on Thursday posted a net income of $14.7 billion in the past quarter despite a huge tax bill in Ireland, a significant decline compared to the nearly $23 billion posted a year ago.
Meanwhile, the iPhone maker's total net sales rose 6 per cent year-on-year to $94.9 billion, exceeding analysts' expectations. In China, net sales fell slightly to $15 billion, missing market expectations. Apple's shares fell by around 1 per cent at times in after-hours trading in the United States.
The iPhone was once again a driving force for the company, with sales up 5.5 per cent to $46.2 billion, partly driven by the the launch of a new model in the last few weeks of the quarter. The iPhone is by far the most important product for Apple, representing nearly half of its total net sales ($94.9 billion). Revenues from Mac computers and iPad tablets also increased.
The back payment in Ireland depressed quarterly earnings by $10.2billion, chief financial officer Luca Maestri said.
Earlier in October, the European Union's highest court ordered Apple to pay $14.4 billion in back taxes, ending a lengthy legal dispute. - dpa
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