Apple company has posted its financial report for the last quarter of its fiscal year, covering July through September. The company reported a 6% increase in revenue, totaling $94.9 billion, driven mainly by rising iPhone sales.
Sales increased across all Apple categories including iPhone, Mac, iPad, and Services—except for wearables, which saw a slight decline of 3%.
Tim Cook, CEO, shared in a conference call that iPhone sales achieved a new revenue record for September with growth seen in every geographic region. The iPhone 16 devices were available for the last ten days of the quarter.
Despite the rise in revenue, Apple’s net income dropped by 35% compared to the same period last year. The company attributed this decrease to a €14.3 billion (15.8 billion) tax payment to Ireland. The payment followed the European Union ruling that a prior deal with Ireland had violated state aid laws.
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