Featured, Gadgets, News - Tuesday, January 24, 2012 16:19 - 11 Comments

$4.88bn baby: Apple Australia’s licence to print money

news Apple has revealed that its Australian division has experienced incredible levels of revenue growth over the past five years, in new financial documents released this week which paint a graphic picture of the effect that the global resurgence of the iconic technology giant’s fortunes have had on its local operation.

Globally, the success of new product lines which Apple has introduced over the past five years (such as the iPhone and iPad) has had an extraordinary impact on its revenues. In three of the most four recent fiscal years, the company has achieved annual revenue growth of more than 50 percent, with the exception of the recession year of 2009 in which its growth dipped to 14.4 percent.

All of this has added up to create the most valuable technology company in the world — with more than $108 billion in revenues for financial year 2011 and a pile of current assets, predominantly in cash, which is estimated to be close to $100 billion. In financial year 2006, the company was making less than a fifth of those revenues globally — $19.3 billion — and it had just $6 billion in cash on hand. Yesterday, the company delivered the first complete picture for some time of what those results have looked like in Australia.

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