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:	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	Sep 29, 2018	Jun 30, 2018	Mar 31, 2018	Dec 30, 2017
Products	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)	52,301)	43,095)	51,287)	79,164)
Services	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)	10,599)	10,170)	9,850)	9,129)
Net sales	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)	62,900)	53,265)	61,137)	88,293)
Products	(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)	(34,697)	(28,956)	(33,936)	(50,575)
Services	(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)	(4,119)	(3,888)	(3,779)	(3,806)
Cost of sales	(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)	(38,816)	(32,844)	(37,715)	(54,381)
Gross margin	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)	24,084)	20,421)	23,422)	33,912)
Research and development	(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)	(3,750)	(3,701)	(3,378)	(3,407)
Selling, general and administrative	(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)	(4,216)	(4,108)	(4,150)	(4,231)
Operating expenses	(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)	(7,966)	(7,809)	(7,528)	(7,638)
Operating income	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)	16,118)	12,612)	15,894)	26,274)
Other income (expense), net	(50)	29)	(265)	64)	(393)	(237)	(10)	160)	(247)	(538)	243)	508)	45)	126)	46)	282)	349)	502)	367)	378)	560)	303)	672)	274)	756)
Income before provision for income taxes	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)	16,421)	13,284)	16,168)	27,030)
Provision for income taxes	(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)	(2,296)	(1,765)	(2,346)	(6,965)
Net income	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)	14,125)	11,519)	13,822)	20,065)

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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 increased from Q3 2023 to Q4 2023 and from Q4 2023 to Q1 2024.
Operating income	The net result for the period of deducting operating expenses from operating revenues.	Apple Inc. operating income increased from Q3 2023 to Q4 2023 and from Q4 2023 to Q1 2024.
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 increased from Q3 2023 to Q4 2023 and from Q4 2023 to Q1 2024.
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 increased from Q3 2023 to Q4 2023 and from Q4 2023 to Q1 2024.

Apple Inc. (NASDAQ:AAPL)

Income StatementQuarterly Data

Income Statement
Quarterly Data