Apple earned $1 billion every day this financial year
What you need to know
- Apple announced its Q4 revenue yesterday.
- CEO Tim Cook says the company recorded $366 billion in revenue this financial year.
- That means for the first time Apple has made $1 billion every day for a year.
Apple CEO Tim Cook has confirmed that the company earned $366 billion in the last financial year, meaning the company earned $1 billion every single day.
Apple reported record revenue in Q4, despite supply constraints, of $83.4 billion, up 29% from the year before. That means that for the whole year Apple recorded $366 billion in revenue. Tim Cook stated:
As helpfully broken down by Marques Brownlee, that figure means that last year Apple earned $41 million dollars every hour, $695,000 every minute, or $11,500 every second:
A billion dollars every day
$41 million dollars every hour
$695,000 every minute
$11,500 every second
It's hard to comprehend how fast this one company is making so much money https://t.co/LE1ztNl1O3A billion dollars every day
$41 million dollars every hour
$695,000 every minute
$11,500 every second
It's hard to comprehend how fast this one company is making so much money https://t.co/LE1ztNl1O3— Marques Brownlee (@MKBHD) October 29, 2021October 29, 2021
The figures are truly astonishing when you think about it, with Apple's revenue climbing 33% on the previous financial year. Of course, Apple has expenses, Patrick McGee noting net income for the year was just shy of $95 billion. Apple still heavily relies on its best iPhones to do the heavy lifting, and the iPhone accounted for more than 46% of revenue last quarter thanks to the success of iPhone 13 and the iPhone 12's continued popularity.
Looking forward, Apple warned that it expects supply constraints to continue into the holiday season due to global chip shortages.
Master your iPhone in minutes
iMore offers spot-on advice and guidance from our team of experts, with decades of Apple device experience to lean on. Learn more with iMore!
Stephen Warwick has written about Apple for five years at iMore and previously elsewhere. He covers all of iMore's latest breaking news regarding all of Apple's products and services, both hardware and software. Stephen has interviewed industry experts in a range of fields including finance, litigation, security, and more. He also specializes in curating and reviewing audio hardware and has experience beyond journalism in sound engineering, production, and design. Before becoming a writer Stephen studied Ancient History at University and also worked at Apple for more than two years. Stephen is also a host on the iMore show, a weekly podcast recorded live that discusses the latest in breaking Apple news, as well as featuring fun trivia about all things Apple. Follow him on Twitter @stephenwarwick9