Apple Reports Strong Profits Despite EU Tax Repayment

The tech giant exceeded earnings expectations with a $14.7 billion profit, driven by iPhone sales growth amid challenges in China.

Apple's revenue for the last quarter increased by 6% to $94.9 billion, surpassing analysts' expectations.
The company's net profit of $14.7 billion reflects a significant drop due to a $10.2 billion tax repayment to Ireland mandated by the EU.
iPhone sales rose by 6% to $46.2 billion, marking a recovery after previous quarters of decline.
Apple faces ongoing competition in China, where sales slightly decreased, impacting overall growth projections.
New AI features in the iPhone 16, branded as 'Apple Intelligence,' are expected to boost future sales, though EU customers face delays due to regulatory issues.