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Apple takes in as much revenue in a quarter as Ireland does in a year

Rabidlamb

http://www.telegraph.co.uk/finance/newsbysector/mediatechnologyandtelecoms/electronics/9224881/Apple-profits-rise-94pc-to-11.6bn-smashing-expectations.html

Profits in the first three months of the year reached $11.6bn (£7.2bn), 94pc higher than in the same quarter of last year and dwarfing the $9.4bn that analysts had forecast.

The iPad and the iPhone once again shone as Apple found new buyers of the gadgets across the world. iPhone sales soared 88pc to 35.1m, while those for the iPad more than doubled to 11.8m.

International sales accounted for 64pc of the $39.2bn of revenue that Apple generated in the quarter, with chief executive Tim Cook describing the demand in China as "mind boggling". Chinese appetite for the iPhone - Apple's most profitable product - helped push the company's gross margin to 47.4pc in the quarter from 41.4pc a year earlier.

So the Irish state takes in about €32 billion in a year where Apple took in $39.2 billion in the first 3 months of this year, the mind boggles.
I've never purchased one of their products but well done them.

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Guill

Apple shoul buy Ireland. We might be cool then. But then again we already just went through an overpriced under spec stage...

Tom

iReland ?

fasttalkerchat

This is revenue. Revenue for an expensive popular product will always be high.

SMASH THE UNIONS

Apple is a private company. Ireland is an inefficient socialist hellhole run for the benefit of civil servants. Go figure.

lost marbles

i wonder did forrest gump hold onto his shares .:D

Seachmall

SMASH THE UNIONS wrote: »

Apple is a private company. Ireland is an inefficient socialist hellhole run for the benefit of civil servants. Go figure.

So's your mom! :mad:

spank_inferno

Seachmall wrote: »

So's your mom! :mad:

..... I lol'd

shedweller

It doesn't surprise me. I opened an iPhone recently and I was shocked at how little was in the thing. To think people spend so much on something like that. They are fond of planned obsolescence too and bank on their popularity to keep 'em coming back. I believe it is called the "Apple Nerd Tax" by some. Very apt.
Fair play to Apple though!!

Kolido

Current exchange rate Eur32M is ~ $42M

We win

Sunnyisland

Well, we have had an orange state hear that failed maybe we should try an apple one :-)

danniemcq

Apple were in the sh*tter few years back, then they brought someone back and now look at them...

Maybe we should make Bertie president for life?

Doc Ruby

Rabidlamb wrote: »

So the Irish state takes in about €32 billion in a year

That's just the exchequer revenue. Actual revenue is closer to €70 billion. Yes, the tax take is hidden in all sorts of quirky wild and wonderful ways which means half of it usually goes unreported by the media, which suits the civil service just fine thanks.

[Deleted User]

Doc Ruby wrote: »

That's just the exchequer revenue. Actual revenue is closer to €70 billion. Yes, the tax take is hidden in all sorts of quirky wild and wonderful ways which means half of it usually goes unreported by the media, which suits the civil service just fine thanks.

When you say "hidden in all sorts of quirky..... ways", do you mean published?

http://www.finance.gov.ie/

humanji

Seachmall wrote: »

So's your mom! :mad:

Enough of that.

ninebeanrows

SMASH THE UNIONS wrote: »

Apple is a private company. Ireland is an inefficient socialist hellhole run for the benefit of civil servants. Go figure.

Socialist hell hole?

Ireland is a very much right leaning country.

We aren't America but we certainly aren't Spain or Sweden.

mikom

SMASH THE UNIONS wrote: »

Ireland is an inefficient socialist hellhole run for the benefit of civil servants.

There's an app for that....

Rabidlamb

Tony baby, lovin' your work . . .

joseph brand

Apple has massive profits due to slavery. Sure didn't slavery build the US.

The best solution would be to import thousands of Chinese in containers and have them do our jobs for about 80c/hr. Ireland will bounce back. :pac:

foxyboxer

I know, how about iMeter.

A white water meter, while the government can then introduce an upgraded meter every year and render the previous iMeter obselete by virtue of being uncool and "So last year :rolleyes:"

Smcgie

SMASH THE UNIONS wrote: »

Apple is a private company.

Wrong

starbelgrade

Weathercheck wrote: »

Socialist hell hole?

Ireland is a very much right leaning country.

We aren't America but we certainly aren't Spain or Sweden.

The Spanish government is made up primarily of members of the Partido Popular - a party that was founded by a former member of General Franco's dictatorship and have remained the one of the most right wing and most voted for partys in Spain since their formation.

And though there are strong socialist opposition parties in Spain, Spain is not exactly what you would call a socialist country. Not by a long shot.

Geuze

Apple is a "private" company in as much as it is not State-owned.

However, as its shares trade on the stock exchange, it is known as a "public" company, though this is misleading, as of course it is owned by millions of private shareholders.

Geuze

http://www.finance.gov.ie/documents/guidelines/BESSept2011.pdf

Revenues of the Irish Govt are approx 50-55bn, see above.

The media focus on Exchequer tax revenues, which doesn't tell the full story.

draiochtanois

This post has been deleted.

hooradiation

RobbieTheRobber wrote: »

When you say "hidden in all sorts of quirky..... ways", do you mean published?

http://www.finance.gov.ie/

Those sneaky, sneaky bastards.

Red_Wake

We've lost more jobs than they have, in fairness.

Doc Ruby

RobbieTheRobber wrote: »

When you say "hidden in all sorts of quirky..... ways", do you mean published?

http://www.finance.gov.ie/

You can publish things while also hiding them in all sorts of quirky ways.

There is a widespread assumption that The Exchequer Accounts represent the Government Accounts. This is not true.

The Exchequer Account only represents money which actually passes through the Exchequer Account in the Department of Finance. There are a multitude of government receipts and expenditures that do not pass through the Exchequer Account. These should form part of any analysis of our public finances.

Yet, time and again it is the Exchequer Accounts that get the only media exposure. One reason for this is that they are released every month and are available in a readily digestible form. A second reason is that many commentators and observers simply show no inclination to verify the statistics they use and go with the most accessible information.

Just one example should be enough to highlight the relative uselessness of depending on the Exchequer Accounts as a measure of the overall Public Finances. Government revenue is examined below the fold.

Most months we examine the tax figures from the Exchequer Accounts. This is useful as a gauge of the patterns in tax revenues in the economy. See posts here. However, not one of these posts mentions PRSI, Motor Tax, or Commercial Rates.

Do I just leave them out? Of course not. These taxes do not form part of The Exchequer Account so we do not get monthly statistics on them. These are significant sources of revenue for the government.

With all this included we find that total government revenue in Ireland in 2009 was approximately €56.5 billion euro. This is a long way from the €32.5 billion figure from the Exchequer Accounts that gets far more coverage than it deserves.

The OP is very far from alone in their misconception about how much the government takes in, and the government is in no rush to modernise reporting and accounting practises.

Duggys Housemate

Doc Ruby wrote: »

You can publish things while also hiding them in all sorts of quirky ways.

The OP is very far from alone in their misconception about how much the government takes in, and the government is in no rush to modernise reporting and accounting practises.

I doubt if it is subterfuge though, it is just a different accounting for the PAYE stuff which comes in every month, and the rest which can dribble in at any time EDIT - and goes direct to departments or local government. Local government revenue is definitely not State revenue.

Doc Ruby

Duggys Housemate wrote: »

I doubt if it is subterfuge though, it is just a different accounting for the PAYE stuff which comes in every month, and the rest which can dribble in at any time EDIT - and goes direct to departments or local government. Local government revenue is definitely not State revenue.

Its not just the PAYE stuff, its the income tax, corporate tax, VAT, customs and excise, stamps, capital gains and more big name revenue sources. Maybe its not deliberate, but as I said, the government isn't in any rush to broadcast how much is actually being taken in, to the extent that most taxpayers just aren't aware of this basic metric.

And apparently its even fooled the OECD, who seem to think that we only collected 27.9% of GDP in revenue in 2009, when the actual figure was more like 33%. Its like something from a Douglas Adams book, clearly published at the bottom of a locked filing cabinet stuck in a disused lavatory with a sign on the door saying 'Beware of the Leopard'.

dotsman

Weathercheck wrote: »

Socialist hell hole?

Ireland is a very much right leaning country.

We aren't America but we certainly aren't Spain or Sweden.

You clearly don't know your left from your right!