Direct Answer
Apple reported $391 billion in revenue for fiscal year 2024 (ending September 2024), making it one of the highest-revenue companies in history. Net income was approximately $93.7 billion. Apple's revenue grew from $65 billion in FY2010 to $391 billion in FY2024, driven by iPhone ($201B), Services ($96B), Mac ($30B), iPad ($26B), and Wearables ($38B).
Apple (AAPL) Annual Revenue and Earnings History
Apple annual revenue, net income, EPS, and operating margin (FY2010-FY2024)
| Fiscal Year | Revenue (B) | Net Income (B) | EPS | Operating Margin |
|---|---|---|---|---|
| FY2010 | $65.2 | $14.0 | $2.16 | 28.2% |
| FY2012 | $156.5 | $41.7 | $6.31 | 35.3% |
| FY2014 | $182.8 | $39.5 | $6.45 | 28.7% |
| FY2016 | $215.6 | $45.7 | $8.31 | 27.8% |
| FY2018 | $265.6 | $59.5 | $11.91 | 26.7% |
| FY2019 | $260.2 | $55.3 | $11.89 | 24.6% |
| FY2020 | $274.5 | $57.4 | $12.69 | 24.1% |
| FY2021 | $365.8 | $94.7 | $5.61 | 29.8% |
| FY2022 | $394.3 | $99.8 | $6.11 | 30.3% |
| FY2023 | $383.3 | $97.0 | $6.13 | 29.8% |
| FY2024 | $391.0 | $93.7 | $6.08 | 31.5% |
Source: Apple Investor Relations Annual Reports. Note: FY2021+ EPS reflect stock split adjustments. Last verified: September 2026.
Frequently asked questions
How did Apple grow revenue from $65B to $391B?
Apple's revenue grew 6x from FY2010 to FY2024 through: (1) iPhone dominance -- the iPhone launched in 2007 and became the world's most profitable consumer electronics device, generating $200+ billion annually by FY2024; (2) geographic expansion into China and other emerging markets; (3) Services revenue growth (App Store, Apple Music, iCloud, Apple TV+, Apple Pay) from near zero to $96 billion annually; (4) sustained pricing power (average iPhone selling price increased from approximately $600 in 2010 to $900+ in 2024). The iPhone revenue was approximately 52% of total FY2024 revenue.
What is Apple's profit margin compared to other tech companies?
Apple's net profit margin of approximately 24-26% is among the highest of any company at its revenue scale. The operating margin of approximately 30%+ reflects Apple's exceptional pricing power, hardware ecosystem lock-in, and high-margin Services segment. For comparison: Microsoft operates at approximately 42% net margins (predominantly software/cloud), Alphabet at 23-25%, Meta at 29-35%, Amazon at 5-8%. Apple's hardware business (30%+ gross margin on iPhones) combined with high-margin Services (75%+ gross margin) creates blended margins exceptional for a hardware-dominant company.
What drives Apple's Services revenue?
Apple's Services segment ($96 billion in FY2024) includes: App Store commissions (15-30% of in-app purchases), Apple Music and Apple TV+ subscriptions, iCloud storage subscriptions, Apple Pay transaction fees, AppleCare+ warranty contracts, licensing fees (including Google's reported $18-20 billion/year to be the default Safari search engine), and various other recurring revenue streams. Services gross margin is approximately 75% vs. approximately 37% for Products, making it the most profitable segment per dollar of revenue.
Cite This Page
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Swoopr Editorial Team. (2026). Apple (AAPL) Annual Revenue and Earnings History. Swoopr Investment. https://www.getswoopr.com/tables/company/apple-revenue-earnings-history/
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