The above graph represents Apple revenue vs net income by quarter, starting from fiscal Q1 1993 to Q3 2020. The Cupertino giant generated about $59,685 million in revenue during the third quarter ended June 27, 2020, with a net profit of $11,253 million. That showed a considerable increase of 10.9% YoY and 12% YoY in revenue and net profit, respectively.
Apple quarterly revenue and net income, both reached an all-time high in fiscal Q1 2020. While the revenue clocked $91,819 million ($91.8 billion), net profit clocked $22,236 million ($22.2 billion). There was a considerable 9% YoY growth in revenue and 11.4% YoY growth in net income.
Apple Quarterly Revenue and Net Income: History
|Source:||Apple’s official Reports, SEC Filings|
|Note:||Apple financial year – October 1 to September 30|
As the graph shows, the first fiscal quarter of every year has always been the most promising for Apple in terms of revenue and profit.
In fiscal Q1 2013, Apple achieved the first big milestone as the quarterly revenue crossed the $50 billion mark for the first time. The company reported total revenue of $54,512 million, with a net profit of $13,078 million during the quarter.
It is important to note that in fiscal Q1 2018, Apple’s quarterly revenue reached an all-time high of $88,293 million ($88.3 billion), with a record net profit of $20,065 million ($20.1 billion). The growth was primarily driven by the iPhone X, iPhone 8 and 8 Plus which emerged as the world’s best-selling smartphones of Q1 2018.
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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