The above graph represents Apple net income by quarter, starting from fiscal Q1 1993 to Q4 2020. The Cupertino giant reported a notable decline of 7.4% YoY in its global net income, amounting to $12,673 million during the fiscal fourth quarter ended September 26, 2020.
It is important to note that Apple global net profit reached an all-time high of $22,236 million ($22.2 billion) in fiscal Q1 2020. The company recorded an appreciable 11.4% YoY and 62.5% QoQ growth in net profit.
Growth in Apple Quarterly Net Income: History
|Source||Apple’s official Reports, SEC Filings|
|Note||Apple financial year starts from October|
It is important to note that the first quarter, known as the holiday quarter, has been the most profitable quarter for the Cupertino giant since last 8 years. In fiscal Q1 2018, the company generated a net profit of $20,065 million ($20.1 billion). The first quarter of 2018 was the second-best in the history of Apple in terms of revenue and profit, trailing the first fiscal quarter of 2020.
Apple posted a quarterly net income of $161 million in fiscal Q1 1993. It took 13 years for the company to achieve the milestone of $500 million net profit. In fiscal Q1 2006, Apple’s net profit increased a record 92.8% YoY to $565 million. In just one year, in fiscal Q1 2007, the company increased its net profit to $1,004 million ($1 billion).
In fiscal Q1 2012, Apple more than doubled its quarterly net income to $13,064 million ($13 billion), from $6,004 million ($6 billion) in fiscal Q1 2011. That was the first time when the company quarterly net income crossed $10 billion.
About Apple Inc: Additional Information
Apple Inc. (NASDAQ: AAPL) was founded on April 1, 1976, by Steve Jobs, Steve Wozniak, and Ronald Wayne. The company is popularly known for its line of smartphones called iPhones. Apart from iPhones, the Cupertino giant develops and sells iPad, Macbooks, iPod, Apple Watches, Apple TV, HomePod, and some other online services.
Apple’s first product was Apple I, a desktop computer that was designed and hand-built entirely by Steve Wozniak.
On December 12, 1980, Apple went public, by selling 4.6 million shares at $22 per share.
On January 9, 2007, Steve Jobs unveiled the first generation of iPhone at the Macworld 2007 convention, in San Francisco. However, it was launched on June 29th in the United States, at the price of $499 for the 4GB model and $599 for the 8 GB model. After the initial hiccups, the worldwide sales of iPhone skyrocketed from fiscal Q4 2008, when Apple recorded nearly 9X jump in the sales of the iPhone.
After 10 years, in September 2017, Apple Inc. celebrated its 10th anniversary of iPhone by launching its most-expensive, most-innovative iPhone X, along with iPhone 8 and 8 Plus.
With a brand value of $205.5 billion, Apple tops the list of World’s Most Valuable Brands 2019 by Forbes, for the ninth year in a row.
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