Contents

Apple: Net Income, by quarter
QuarterNet income,
in billion USD
Q1 202433.92
Q4 202322.96
Q3 202319.88
Q2 202328.32
Q1 202329.99
Q420 2220.72
Q320 2219.44
Q2 202225.01
Q1 202234.60
Q4 202120.55
Q3 202121.74
Q2 202123.63
Q1 202128.76
Q4 202012.67
Q3 202011.25
Q2 202011.25
Q1 202022.24
  • Region: Worldwide
  • Time period: FY 2020 to 2024
  • Published: Feb 2024

Data Analysis and Insights

Updated: Apr 6, 2024 | Published by: Statistico

Record-breaking Net Income in Q1 2024

Apple achieved its highest quarterly net income of 33.92 billion USD in Q1 2024, surpassing its previous peak of 34.60 billion USD in Q1 2022. This demonstrates a remarkable recovery and growth in profitability.

Steady Growth in Quarterly Net Income

From Q4 2020 to Q1 2024, Apple 's quarterly net income showcased a consistent upward trajectory, with a significant jump from 12.67 billion USD in Q4 2020 to 33.92 billion USD in Q1 2024, indicating robust financial health and market dominance.

Q1: A Quarter of Peaks

Q1 consistently emerges as Apple 's strongest quarter in terms of net income, with the highest earnings reported during this period across multiple years, highlighting the impact of holiday sales and product launches.

Variability in Quarterly Performance

The net income figures reveal a pattern of variability across different quarters, with Q1 and Q2 often showing higher profitability compared to Q3 and Q4. This fluctuation underscores the cyclical nature of Apple 's business operations and consumer demand.

Significant Recovery Post-COVID-19

Comparing Q1 2020 net income of 22.24 billion USD with Q1 2024, a substantial increase to 33.92 billion USD highlights Apple 's strong recovery and growth trajectory post the COVID-19 pandemic's initial impact.

Q3: The Lowest Earning Quarters

The data indicates that Q3 quarters, across the years observed, generally report the lowest net income figures for Apple, suggesting seasonal adjustments and possibly lower consumer spending during these periods.

Year-over-Year Growth Analysis

Year-over-year analysis reveals that Apple experiences significant fluctuations in its net income, with the most notable increase observed from Q4 2020 to Q1 2021, marking a recovery phase and highlighting the company's ability to adapt and grow amidst market challenges.

Frequently Asked Questions

What was Apple's highest quarterly net income and when was it achieved?

Apple achieved its highest quarterly net income of 33.92 billion USD in Q1 2024.

Terms and Definitions

Apple Inc. is a multinational technology company that designs, manufactures and markets digital communication and media devices. It's known for its products such as the iPhone, iPad, and Mac computers.

Net income refers to a company's earnings or profit. More specifically, it's the revenue obtained after subtracting all operational costs, taxes, depreciation, interest, and other expenses from total revenue.

Revenue is the total amount of income generated by the sale of goods or services related to a company's primary operations. Revenue is often referred to as the "top line" because it's listed at the top of a company's income statement.

Operational costs, also known as operating expenses, are the costs associated with running a business’s core operations. They include costs such as salaries, rent, utilities, and depreciation.

Taxes in financial terms refer to compulsory contributions to state revenue, levied by the government on workers' income, business profits, or added to the cost of some goods, services, and transactions.

Interest in finance and investments is an amount paid by a borrower to a lender for the use of their funds. It's usually expressed as a percentage of the principal amount. For businesses, interest can be an expense as it reflects the cost of borrowing money.
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