The Irish subsidiary of Apple has reported a 60% increase in profits to $62.3 billion in 2024, while net sales for the entire Apple group reached $222.3 billion.
New accounts filed by Apple Operations International Limited, based in Cork, show the firm had a net sales increase of 1.6% at the end of its financial year.
Sales outside Ireland represent a majority of total net sales.
Apple’s net income was $51.1 billion in 2024 – down from $62.28 billion.
The number of staff working at Apple globally dropped from 56,922 in 2023 to 55,827 in 2024. Despite this, staff costs rose from $6.7 billion to just over $7 billion last year.
Apple’s income tax provision increased 187% – up to $25.2 billion from $8.8 billion in 2023.
Dividends paid by the company dropped significantly, from $92.2 billion in 2023 to $67.6 billion last year.
Apple is expected to be fined by the European Commission as it enforces its digital rules. The iPhone is likely to be told to change its app store rules, following an investigation into restrictions imposed by the firm that prevent other app developers from informing users about offers outside Apple’s app store.
The company, which now has more than 2 billion devices in use around the world, is also working on a revamp of its interface on the iPhone, iPad and Mac, which is due later this year.
