Apple Revenue: €205bn – Irish Times Analysis
- Apple topped the 2024 rankings of ireland's Top 1,000 companies, published by The Irish times on december 5, 2024, with substantial revenue adn profit figures.
- Apple's revenue for the year ending September 28, 2024, reached €205.4 billion, generating profits of €70.6 billion, according to The Irish Times.
- Apple's substantial profitability in Ireland is a key driver behind the recent surge in Irish corporation tax revenues.
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Apple leads Ireland’s Top 1,000 Companies in 2024, Tech Giants Dominate
Executive summary
Apple topped the 2024 rankings of ireland’s Top 1,000 companies, published by
The Irish times on december 5, 2024,
with substantial revenue adn profit figures. The technology sector continued its dominance,
with Google and Microsoft securing the second and third positions,respectively.
This concentration of tech giants significantly impacts Irish corporation tax revenues.
Key Financial Highlights
Apple’s revenue for the year ending September 28, 2024, reached €205.4 billion,
generating profits of €70.6 billion, according to The Irish Times.
This represents a important led over its competitors. Google secured the second position
with a revenue of €77.3 billion and a nearly doubled profit of €3.6 billion.
Microsoft followed closely, reporting profits of €3.95 billion on a turnover increase of 14% to an unspecified amount.
| Company | Revenue (€ Billion) | Profit (€ Billion) |
|---|---|---|
| Apple | 205.4 | 70.6 |
| 77.3 | 3.6 | |
| Microsoft | Not Specified | 3.95 |
Impact on the Irish Economy
Apple’s substantial profitability in Ireland is a key driver behind the recent surge in Irish corporation tax revenues.
The company employs approximately 6,000 people in its Irish operations, contributing to local employment.
The concentration of large multinational corporations in Ireland, particularly in the tech sector,
has transformed the country into a significant hub for international business.
Though, this reliance on corporate tax revenue also presents vulnerabilities.
Changes in international tax regulations, such as the OECD’s Pillar Two agreement,
could significantly impact Ireland’s future tax income. The OECD’s Pillar Two agreement aims to establish a global minimum corporate tax rate of 15%, perhaps reducing the tax advantages currently enjoyed by multinational corporations operating in Ireland.
Trends and Future Outlook
The continued dominance of technology companies in the Irish economy reflects broader global trends.
The demand for digital products and services remains high, driving revenue growth for these companies.