BREAKING NEWS: Apple Revenue Nears $10 Billion In Australia
Apple’s Australian arm is tipped to pass the $10 billion mark in revenue for the first time since it launched Down Under.
Australian revenue for the California-based iPhone maker jumped by 4 per cent to $9.79 billion in the year ending September 26, up from $9.39 billion, according to accounts lodged with the corporate regulator.
Apple profited greatly from the unprecedented surge in the purchasing of computing and networking products during the COVID-19 lockdown and work-from-home mandate.
But Apple’s 2019-2020 results do not include the revenue from the company’s two biggest product releases of the year – the iPhone 12 and the silicon Mac computers.
Apple will report its first-quarter results for the 2020-2021 fiscal year later this week, which will include these products.
After posting a staggering $83.8 billion in sales during the final quarter of financial 2020, Apple’s global sales are poised to top $US100 billion in Thursday’s announcement.
The $2.38 trillion tech giant is expected to post $102.6 billion in its fourth-quarter earnings, a jump from $91.8 billion last year, according to Visible Alpha.
Australia is one of the few countries where Apple’s iOS outsells Google’s Android, following several years of growing revenue for Apple Down Under.
Apple Australia booked $8.77 billion cost of sales in the 2019-2020 revenue, dragging gross profit down to $1.02 billion.
The company’s taxable income was reduced to $408 million, meaning it paid $119.9 million in income tax expenses.
More to come following Apple’s official results posting tomorrow (Thursday).