Stock Analysis on Net
Stock Analysis on Net
Microsoft Excel LibreOffice Calc

Apple Inc. (NASDAQ:AAPL)

Income Statement
Quarterly Data

Beginner level

Apple Inc., consolidated income statement (quarterly data)

US$ in millions

Microsoft Excel LibreOffice Calc
3 months ended: Jun 27, 2020 Mar 28, 2020 Dec 28, 2019 Sep 28, 2019 Jun 29, 2019 Mar 30, 2019 Dec 29, 2018 Sep 29, 2018 Jun 30, 2018 Mar 31, 2018 Dec 30, 2017 Sep 30, 2017 Jul 1, 2017 Apr 1, 2017 Dec 31, 2016 Sep 24, 2016 Jun 25, 2016 Mar 26, 2016 Dec 26, 2015 Sep 26, 2015 Jun 27, 2015 Mar 28, 2015 Dec 27, 2014 Sep 27, 2014 Jun 28, 2014 Mar 29, 2014 Dec 28, 2013
Products 46,529  44,965  79,104  51,529  42,354  46,565  73,435  52,301  43,095  51,287  79,164  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  — 
Services 13,156  13,348  12,715  12,511  11,455  11,450  10,875  10,599  10,170  9,850  9,129  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  — 
Net sales (legacy) —  —  —  —  —  —  —  —  —  —  —  52,579  45,408  52,896  78,351  46,852  42,358  50,557  75,872  51,501  49,605  58,010  74,599  42,123  37,432  45,646  57,594 
Net sales 59,685  58,313  91,819  64,040  53,809  58,015  84,310  62,900  53,265  61,137  88,293  52,579  45,408  52,896  78,351  46,852  42,358  50,557  75,872  51,501  49,605  58,010  74,599  42,123  37,432  45,646  57,594 
Products (32,693) (31,321) (52,075) (35,238) (29,473) (32,047) (48,238) (34,697) (28,956) (33,936) (50,575) —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  — 
Services (4,312) (4,622) (4,527) (4,489) (4,109) (4,147) (4,041) (4,119) (3,888) (3,779) (3,806) —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  — 
Cost of sales (legacy) —  —  —  —  —  —  —  —  —  —  —  (32,648) (27,920) (32,305) (48,175) (29,039) (26,252) (30,636) (45,449) (30,953) (29,924) (34,354) (44,858) (26,114) (22,697) (27,699) (35,748)
Cost of sales (37,005) (35,943) (56,602) (39,727) (33,582) (36,194) (52,279) (38,816) (32,844) (37,715) (54,381) (32,648) (27,920) (32,305) (48,175) (29,039) (26,252) (30,636) (45,449) (30,953) (29,924) (34,354) (44,858) (26,114) (22,697) (27,699) (35,748)
Gross margin 22,680  22,370  35,217  24,313  20,227  21,821  32,031  24,084  20,421  23,422  33,912  19,931  17,488  20,591  30,176  17,813  16,106  19,921  30,423  20,548  19,681  23,656  29,741  16,009  14,735  17,947  21,846 
Research and development (4,758) (4,565) (4,451) (4,110) (4,257) (3,948) (3,902) (3,750) (3,701) (3,378) (3,407) (2,997) (2,937) (2,776) (2,871) (2,570) (2,560) (2,511) (2,404) (2,220) (2,034) (1,918) (1,895) (1,686) (1,603) (1,422) (1,330)
Selling, general and administrative (4,831) (4,952) (5,197) (4,578) (4,426) (4,458) (4,783) (4,216) (4,108) (4,150) (4,231) (3,814) (3,783) (3,718) (3,946) (3,482) (3,441) (3,423) (3,848) (3,705) (3,564) (3,460) (3,600) (3,158) (2,850) (2,932) (3,053)
Operating expenses (9,589) (9,517) (9,648) (8,688) (8,683) (8,406) (8,685) (7,966) (7,809) (7,528) (7,638) (6,811) (6,720) (6,494) (6,817) (6,052) (6,001) (5,934) (6,252) (5,925) (5,598) (5,378) (5,495) (4,844) (4,453) (4,354) (4,383)
Operating income 13,091  12,853  25,569  15,625  11,544  13,415  23,346  16,118  12,612  15,894  26,274  13,120  10,768  14,097  23,359  11,761  10,105  13,987  24,171  14,623  14,083  18,278  24,246  11,165  10,282  13,593  17,463 
Other income (expense), net 46  282  349  502  367  378  560  303  672  274  756  797  540  587  821  427  364  155  402  439  390  286  170  307  202  225  246 
Income before provision for income taxes 13,137  13,135  25,918  16,127  11,911  13,793  23,906  16,421  13,284  16,168  27,030  13,917  11,308  14,684  24,180  12,188  10,469  14,142  24,573  15,062  14,473  18,564  24,416  11,472  10,484  13,818  17,709 
Provision for income taxes (1,884) (1,886) (3,682) (2,441) (1,867) (2,232) (3,941) (2,296) (1,765) (2,346) (6,965) (3,203) (2,591) (3,655) (6,289) (3,174) (2,673) (3,626) (6,212) (3,938) (3,796) (4,995) (6,392) (3,005) (2,736) (3,595) (4,637)
Net income 11,253  11,249  22,236  13,686  10,044  11,561  19,965  14,125  11,519  13,822  20,065  10,714  8,717  11,029  17,891  9,014  7,796  10,516  18,361  11,124  10,677  13,569  18,024  8,467  7,748  10,223  13,072 

Based on: 10-Q (filing date: 2020-07-31), 10-Q (filing date: 2020-05-01), 10-Q (filing date: 2020-01-29), 10-K (filing date: 2019-10-31), 10-Q (filing date: 2019-07-31), 10-Q (filing date: 2019-05-01), 10-Q (filing date: 2019-01-30), 10-K (filing date: 2018-11-05), 10-Q (filing date: 2018-08-01), 10-Q (filing date: 2018-05-02), 10-Q (filing date: 2018-02-02), 10-K (filing date: 2017-11-03), 10-Q (filing date: 2017-08-02), 10-Q (filing date: 2017-05-03), 10-Q (filing date: 2017-02-01), 10-K (filing date: 2016-10-26), 10-Q (filing date: 2016-07-27), 10-Q (filing date: 2016-04-27), 10-Q (filing date: 2016-01-27), 10-K (filing date: 2015-10-28), 10-Q (filing date: 2015-07-22), 10-Q (filing date: 2015-04-28), 10-Q (filing date: 2015-01-28), 10-K (filing date: 2014-10-27), 10-Q (filing date: 2014-07-23), 10-Q (filing date: 2014-04-24), 10-Q (filing date: 2014-01-28).

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.’s net sales decreased from Q1 2020 to Q2 2020 but then slightly increased from Q2 2020 to Q3 2020.
Operating income The net result for the period of deducting operating expenses from operating revenues. Apple Inc.’s operating income decreased from Q1 2020 to Q2 2020 but then slightly increased from Q2 2020 to Q3 2020.
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.’s income before provision for income taxes decreased from Q1 2020 to Q2 2020 but then slightly increased from Q2 2020 to Q3 2020.
Net income The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Apple Inc.’s net income decreased from Q1 2020 to Q2 2020 but then slightly increased from Q2 2020 to Q3 2020.