The chart above shows the quarterly net income of Apple for 2022 and 2023. During the first two quarters of 2023, the company has experienced a decline in net income compared to the same quarters of the previous year. In the first quarter of 2023, Apple’s net income was more than $4.6 billion lower compared to the same period of the prior year.
Apple generated total $29,998 million in net income in the first quarter of 2023 compared to $34,630 million in the same quarter of the previous year. However, in the second quarter of 2023, its total net income was $24,160 million compared to $25,010 million in the same quarter of the prior year.
Net Income of Apple Inc (quarterly) 2015-2022
Sums are in millions.
| FY2015 | Net Income (Millions) |
| Q1 | $18,024 |
| Q2 | $13,569 |
| Q3 | $10,677 |
| Q4 | $ 11,124 |
| Total | $45,687 |
| FY2016 | Net Income (Millions) |
| Q1 | $18,361 |
| Q2 | $10,516 |
| Q3 | $7,796 |
| Q4 | $9,014 |
| Total | $53,394 |
| FY2017 | Net Income (Millions) |
| Q1 | $17,891 |
| Q2 | $11,029 |
| Q3 | $8,717 |
| Q4 | $10,714 |
| Total | $48,351 |
| FY 2018 | Net Income (Millions) |
| Q1 | $20,065 |
| Q2 | $13,822 |
| Q3 | $11,519 |
| Q4 | $14,125 |
| Total | $59,531 |
| FY2019 | Net Income (Millions) |
| Q1 | $19,965 |
| Q2 | $ 11,561 |
| Q3 | $10,044 |
| Q4 | $13,686 |
| Total | $55,256 |
| Net Income (mn) | 2020 | 2021 | 2022 | 2023 |
| Q1 | $22,236 | $28,755 | $34,630 | $29,998 |
| Q2 | $11,249 | $23,630 | $25,010 | $24,160 |
| Q3 | $11,253 | $21,744 | $19,442 | |
| Q4 | $12,673 | $20,551 | $20,721 | |
| Total | $57,411 | $94,680 | $99,803 |
Related:
- Apple Inc Net Revenue
- Apple Annual Net Income
- Apple Research and Development Expenses
- Apple Number of Employees
- Apple Geographic Revenue
- Apple Revenue from the US and China Compared
2022: Apple’s net income in 2022 increased to $99.8 billion compared to $94.7 billion in 2021. In the first quarter of 2022, the company experienced most significant increase in its net income compared to the same quarter of the prior year. While Apple’s net income remained flat in the fourth quarter of 2022 versus the same quarter of the prior year, in the third quarter it was lower than the same period last year. Apple had $34.6 billion in net income in the first quarter of 2022 compared to $28.8 billion in the same quarter of 2021. During the second quarter of 2022, Apple’s net income increased to $25 billion compared to $23.6 billion in the same quarter of the prior year.
Apple is a leading brand of computing products and smartphone devices. Apart from them, it also manufactures and sells a large range of related software, services, accessories and third-party digital content and applications. Its range of products and services includes iPhone, iPad, Mac, Apple Watch, AirPods, Apple TV, HomePod, a portfolio of consumer and professional software applications, iOS, macOS, watchOS and tvOS operating systems, iCloud, Apple Pay and more accessories, services and support offerings.
Apple also sells and delivers digital content and applications through iTunes Store, App Store, Mac App Store, TV App Store, Book Store and Apple Music. The company uses a mix of direct and indirect distribution channels for the sales of its products. In 2018, it achieved 29% of its sales through the direct channels and 71% through the indirect channels. Net sales of the company in FY2018 reached $265.6 Billion and Net Income $59.5 billion.
FY2019 has opened for Apple on a slightly weaker note as compared to the previous year. Its net income during the first quarter of FY 2019 was $19.96 Billion compared to $20.1 Billion during the same quarter of FY 2018. Net sales also fell from $88.3 Billions last year to $84.3 Billion dollars in the first quarter. Apple’s Net Income for the fiscal came down to $55.26 billion in 2019 from $59.5 billion in 2018. Net revenue also declined by 2% in 2019 compared to the previous year.