Apple to Pay Substantial Amount in Taxes Under Liability Towards French Government

  • Feb 06, 2019 AEDT
  • Team Kalkine
Apple to Pay Substantial Amount in Taxes Under Liability Towards French Government

Apple Inc. (NASDAQ: AAPL) had earlier posted the results for the December 2018 quarter. It can be said that the global market participants were eagerly waiting for the quarterly results of the technology giant as the company had earlier informed to the market players that they are expecting lesser revenues as compared to the guidance. This information from the giant company, like Apple Inc., had increased the worries about the global economic slowdown. The trade battle between the United States and China has the potential to dent global growth, and the battle had significantly impacted the economy of China. The weaker Chinese economy was also a serious matter of concern for global investors. When there were worries about the weakness in the economy of China, the market players were of the view that the Chinese officials should come up with the measures which would support the broader Chinese economy. However, considering the present scenario, it can be said that the sentiments of the market players are largely being helped by the dovish comments of the US Federal Reserve. The global investors took a hint that the central bank of the United States would be patient with respect to the hikes in the interest rates.?

Coming to the latest news, the French division of the company threw light on the tax payment agreement. The company?s French division had stated that they would be shelling out a certain amount in back taxes. The magazine named L?Express/L?Expansion had stated that deal got sealed in the month of December. However, this deal got sealed after negotiations which were conducted for months between the company as well as the tax authorities.

Talking about Apple Inc.?s December 2018 quarter results, it generated revenues amounting to $84.3 billion which reflects 5% fall on the YoY basis. The company?s quarterly earnings per diluted share amounted to $4.18 which implies the rise of 7.5% on the YoY basis. The release issued by the company stated that, of the company?s revenues for the December 2018 quarter, international sales made up 62%. The company?s revenues, with regards to iPhone?, encountered the fall of 15% on the YoY basis. However, the total revenues, with regards to all other products as well as services, encountered the rise of 19%. The company?s CFO had stated that they have posted robust operating cash flows which amounted to $26.7 billion in the quarter ended December 2018. The CFO also added that the company had given more than $13 billion to the investors in the December 2018 quarter in the form of dividends as well as share repurchases.

As per NASDAQ, the last traded price of Apple Inc. was US$174.18 which implies the rise of US$2.93 per share or 1.71%. As per the same source, the company is having the current yield of 1.75% while the stock is having the beta of 1.02. The company is having the annualized dividend of US$2.92, as posted on NASDAQ.


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