Apple CFO denies company enjoys 75% margin on its App Store

Apple CFO Denies Claims Of 75% Profit Margins On App Store: 'I Wouldn't Say They're Accurate' - Apple (NASDAQ:AAPL)

On Thursday, Apple Inc. (NASDAQ:AAPL) CFO Kevan Parekh refuted claims that the tech giant enjoys a 75% profit margin on its App Store. What Happened: Parekh, who succeeded Luca Maestri as CFO, was the first high-ranking executive from a major tech company to testify in the U.K. class action antitrust trial. Michael Armitage, the attorney for the claimants, referred to evidence from a separate U.S. litigation that suggested App Store operating ma…

Apple CFO denies company enjoys 75% margin on its App Store

Kevan Parekh gives evidence in London court case where iPhone maker is accused of abusing a dominant position

In the antitrust proceedings in Great Britain, Apple's chief financial officer evaded questions about the profit margin in the App Store. It is simply impossible to quantify it precisely.

As incredible as it may seem, Apple swears by all the gods that it is impossible to calculate the profitability of the App Store. A position assumed by the group's new financial director.

Apple Refutes Claims Of 75% App Store Profit Margin, Says They're Unaware

Apple’s new CFO was swiftly thrust into a courtroom, where he was tasked with defending the company in a class action lawsuit. Kevan Parekh stated that the company lacks clarity on its profit margin from the App Store. This isn’t the first time Apple has adopted this position. Apple Fellow Phil Schiller previously asserted he was uncertain whether the App Store was even profitable… Antitrust Lawsuits in the UK Apple is currently dealing with two…

Apple denies App Store profit margin is 75% – claims to have no clue

Apple's incoming CFO didn't get much time to settle in before he found himself in court defending the company against a class action lawsuit. Kevan Parekh yesterday claimed that the company that it has no clue about its App Store profit margin. This is a stance the company has taken before. Indeed, Apple Fellow Phil Schiller even went as far as to claim he didn't even know whether the App Store made a profit at all . . . more . . .