AAPL Q1 2024 Earnings — Income Statement Breakdown
For its Q1 2024 period (ending 2023-12-30), AAPL reported revenue of $119.6B, gross profit of $54.9B (45.9% gross margin), operating income of $40.4B, and net income of $33.9B (28.4% net margin). The flow of revenue into costs and profit is visualized below.
What changed
AAPL was profitable; revenue grew 33.6% quarter over quarter.
| Comparison | Revenue | Net income | Net margin |
|---|---|---|---|
| Year over year | Not available | Not available | Not available |
| Quarter over quarter | +33.6% | +47.7% | +2.7 pp |
Consensus estimate data is not available for this report.
AAPL Q1 2024 Income Statement
| Line item | Amount (USD) | % of revenue |
|---|---|---|
| Revenue | $119.6B | 100% |
| Cost of Revenue | −$64.7B | 54.1% |
| Gross Profit | $54.9B | 45.9% |
| Research & Development | −$7.7B | 6.4% |
| Selling, General & Administrative | −$6.8B | 5.7% |
| Operating Income | $40.4B | 33.8% |
| Other Income, net | −$50M | 0.0% |
| Income Tax Expense | −$6.4B | 5.4% |
| Net Income | $33.9B | 28.4% |
Source: original SEC filing (filed 2024-02-01). Accession 0000320193-24-000005. Data normalized by EarningsFyi.