The above graph represents Apple net income by year, starting from fiscal 1990 to 2019. The Cupertino giant reported a notable 7.2% YoY decline in its global net profit, amounting to $55,256 million during fiscal 2019. Nearly 36% of that was generated alone in the first quarter of fiscal 2019. When compared to the previous year, Apple annual net profit reached an all-time high of $59,531 million in FY’18, with an appreciable 23% YoY increase.
Growth in Apple Annual Net Income: History
|Source||Apple’s official Reports, SEC Filings|
|Note||Apple financial year starts from October 1st|
It was the first time in fiscal 2015 when the Cupertino giant achieved $50 billion annual net income milestone. The total net profit increased an impressive 35% year-over-year to $53,394 million ($53.4 billion). The growth was led by the first quarter of fiscal 2015. However, in fiscal 2016, the company witnessed a notable 14% YoY decline in its annual net income.
The annual net income of Apple consistently increased between fiscal 2002 and 2012. In fiscal 2002, Apple generated a net profit of $65 million, after suffering from a net loss of $25 million in 2001. In fiscal 2010, the company generated over $14 billion ($14,013 million to be specific) of total net profit, which later increased to $41,733 million ($41.7 billion) in fiscal 2012.
When it comes to the loss, Apple reported a huge net loss of $1,045 million ($1 billion) in fiscal 1997, as compared with the net loss of $816 million a year ago. Surprisingly, fiscal 1997 was the only year in the history of Apple when it reported the loss in all the four quarters.
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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