Apple’s result close to expectations – iPhone sales increased by six percent

A technology giant Apple increased its revenue in the fourth quarter of its fiscal year to $94.9 billion from $89.5 billion last year.

The company’s net profit fell to 14.8 billion dollars from 23 billion dollars last year. The reason is a one-time tax penalty of 10.2 billion dollars related to Ireland.

The consensus of 40 analysts gathered by the Factset information service expected Apple’s turnover to increase to 94.5 billion dollars in July-September. The net result was expected to increase to 24.4 billion dollars.

Excluding the tax penalty, earnings per share increased to $1.64 from $1.46. The expectation was $1.60.

The company published its results after the stock market closed, but the share price fell by about 2.5 percent in the aftermarket.

iPhone sales increased by six percent to 46.2 billion dollars. Services sales increased to $24.9 billion from $22.3 billion.

Apple’s sales increased in all other geographies except China, where sales remained at last year’s level at $15 billion.

Mac sales rose slightly to $7.7 billion and iPad sales to $7.0 billion from last year’s $6.4 billion.

The company released artificial intelligence features for its newest devices at the beginning of the week. These are meant to accelerate the sale of phones, especially when users want new features for their use.

“This week we released the first features for Apple Intelligence, which sets a new standard for privacy in AI and enhances our lineup for the Christmas season,” the company’s CEO Tim Cook said in the release.