Income Statement
Quarterly Data

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

Apple Inc., consolidated income statement (quarterly data)

US$ in millions

3 months ended:	Sep 28, 2024	Jun 29, 2024	Mar 30, 2024	Dec 30, 2023	Sep 30, 2023	Jul 1, 2023	Apr 1, 2023	Dec 31, 2022	Sep 24, 2022	Jun 25, 2022	Mar 26, 2022	Dec 25, 2021	Sep 25, 2021	Jun 26, 2021	Mar 27, 2021	Dec 26, 2020	Sep 26, 2020	Jun 27, 2020	Mar 28, 2020	Dec 28, 2019	Sep 28, 2019	Jun 29, 2019	Mar 30, 2019	Dec 29, 2018
Products	69,958)	61,564)	66,886)	96,458)	67,184)	60,584)	73,929)	96,388)	70,958)	63,355)	77,457)	104,429)	65,083)	63,948)	72,683)	95,678)	50,149)	46,529)	44,965)	79,104)	51,529)	42,354)	46,565)	73,435)
Services	24,972)	24,213)	23,867)	23,117)	22,314)	21,213)	20,907)	20,766)	19,188)	19,604)	19,821)	19,516)	18,277)	17,486)	16,901)	15,761)	14,549)	13,156)	13,348)	12,715)	12,511)	11,455)	11,450)	10,875)
Net sales	94,930)	85,777)	90,753)	119,575)	89,498)	81,797)	94,836)	117,154)	90,146)	82,959)	97,278)	123,945)	83,360)	81,434)	89,584)	111,439)	64,698)	59,685)	58,313)	91,819)	64,040)	53,809)	58,015)	84,310)
Products	(44,566)	(39,803)	(42,424)	(58,440)	(42,586)	(39,136)	(46,795)	(60,765)	(46,387)	(41,485)	(49,290)	(64,309)	(42,790)	(40,899)	(46,447)	(62,130)	(35,197)	(32,693)	(31,321)	(52,075)	(35,238)	(29,473)	(32,047)	(48,238)
Services	(6,485)	(6,296)	(6,058)	(6,280)	(6,485)	(6,248)	(6,065)	(6,057)	(5,664)	(5,589)	(5,429)	(5,393)	(5,396)	(5,280)	(5,058)	(4,981)	(4,812)	(4,312)	(4,622)	(4,527)	(4,489)	(4,109)	(4,147)	(4,041)
Cost of sales	(51,051)	(46,099)	(48,482)	(64,720)	(49,071)	(45,384)	(52,860)	(66,822)	(52,051)	(47,074)	(54,719)	(69,702)	(48,186)	(46,179)	(51,505)	(67,111)	(40,009)	(37,005)	(35,943)	(56,602)	(39,727)	(33,582)	(36,194)	(52,279)
Gross margin	43,879)	39,678)	42,271)	54,855)	40,427)	36,413)	41,976)	50,332)	38,095)	35,885)	42,559)	54,243)	35,174)	35,255)	38,079)	44,328)	24,689)	22,680)	22,370)	35,217)	24,313)	20,227)	21,821)	32,031)
Research and development	(7,765)	(8,006)	(7,903)	(7,696)	(7,307)	(7,442)	(7,457)	(7,709)	(6,761)	(6,797)	(6,387)	(6,306)	(5,772)	(5,717)	(5,262)	(5,163)	(4,978)	(4,758)	(4,565)	(4,451)	(4,110)	(4,257)	(3,948)	(3,902)
Selling, general and administrative	(6,523)	(6,320)	(6,468)	(6,786)	(6,151)	(5,973)	(6,201)	(6,607)	(6,440)	(6,012)	(6,193)	(6,449)	(5,616)	(5,412)	(5,314)	(5,631)	(4,936)	(4,831)	(4,952)	(5,197)	(4,578)	(4,426)	(4,458)	(4,783)
Operating expenses	(14,288)	(14,326)	(14,371)	(14,482)	(13,458)	(13,415)	(13,658)	(14,316)	(13,201)	(12,809)	(12,580)	(12,755)	(11,388)	(11,129)	(10,576)	(10,794)	(9,914)	(9,589)	(9,517)	(9,648)	(8,688)	(8,683)	(8,406)	(8,685)
Operating income	29,591)	25,352)	27,900)	40,373)	26,969)	22,998)	28,318)	36,016)	24,894)	23,076)	29,979)	41,488)	23,786)	24,126)	27,503)	33,534)	14,775)	13,091)	12,853)	25,569)	15,625)	11,544)	13,415)	23,346)
Other income (expense), net	19)	142)	158)	(50)	29)	(265)	64)	(393)	(237)	(10)	160)	(247)	(538)	243)	508)	45)	126)	46)	282)	349)	502)	367)	378)	560)
Income before provision for income taxes	29,610)	25,494)	28,058)	40,323)	26,998)	22,733)	28,382)	35,623)	24,657)	23,066)	30,139)	41,241)	23,248)	24,369)	28,011)	33,579)	14,901)	13,137)	13,135)	25,918)	16,127)	11,911)	13,793)	23,906)
Provision for income taxes	(14,874)	(4,046)	(4,422)	(6,407)	(4,042)	(2,852)	(4,222)	(5,625)	(3,936)	(3,624)	(5,129)	(6,611)	(2,697)	(2,625)	(4,381)	(4,824)	(2,228)	(1,884)	(1,886)	(3,682)	(2,441)	(1,867)	(2,232)	(3,941)
Net income	14,736)	21,448)	23,636)	33,916)	22,956)	19,881)	24,160)	29,998)	20,721)	19,442)	25,010)	34,630)	20,551)	21,744)	23,630)	28,755)	12,673)	11,253)	11,249)	22,236)	13,686)	10,044)	11,561)	19,965)

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Income statement item	Description	The company
Net sales	Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise.	Apple Inc. net sales decreased from Q2 2024 to Q3 2024 but then increased from Q3 2024 to Q4 2024 exceeding Q2 2024 level.
Operating income	The net result for the period of deducting operating expenses from operating revenues.	Apple Inc. operating income decreased from Q2 2024 to Q3 2024 but then increased from Q3 2024 to Q4 2024 exceeding Q2 2024 level.
Income before provision for income taxes	Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.	Apple Inc. income before provision for income taxes decreased from Q2 2024 to Q3 2024 but then increased from Q3 2024 to Q4 2024 exceeding Q2 2024 level.
Net income	The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.	Apple Inc. net income decreased from Q2 2024 to Q3 2024 and from Q3 2024 to Q4 2024.

Apple Inc. (NASDAQ:AAPL)

Income Statement Quarterly Data

Income Statement
Quarterly Data