Apple ranks first in profitability in Fortune Global 500 list, sixth for revenue

Posted:
in General Discussion edited August 2021
Apple is now the most profitable company in the world and is ranked sixth among global corporations for revenue, according to an update to the Fortune Global 500 list.

Credit: Apple
Credit: Apple


The Cupertino tech giant's revenue now clocks in at $274.515 billion, with $57.411 billion in profit, according to the Fortune Global 500 list update on Monday. Although that's a modest increase from 2020, the Global 500 ranking now lists Apple as the top company in the world in terms of profit.

Behind Apple is Saudi Aramco in second place with $49.287 billion in profit. SoftBank Group ranked third with $47.053 billion and Industrial & Commercial Bank of China came in fourth with $45.783.

Apple also surged up the rankings for revenue, jumping from twelfth to sixth place in the latest update. The company is now only behind Walmart, State Grid, Amazon, China National Petroleum, and Sinopec Group -- in that order -- in terms of total revenue.

"The pandemic created challenges and opportunities for Apple. CEO Tim Cook had to close stores and send home engineers," wrote Fortune "But with Apple customers worldwide working and learning from home, iPad and Macintosh computer sales skyrocketed to their highest levels ever. And fiscal-year revenue hit an all-time record too, of $275 billion."

Fortune also notes that Apple's share price gained 80.7% in 2020.

In addition to highlighting Apple's fiscal and share performance, the publication also pointed out Apple's antitrust battles toward the latter half of 2020.

"As that year wound down, regulators fixed their sights on Apple for potentially abusing its power over the iOS app store," Fortune wrote. "A House Judiciary antitrust subcommittee report in October concluded that Apple "exerts monopoly power" in its app store to harm competition and increase prices for consumers. Meanwhile, testimony in an antitrust lawsuit filed by Fortnite developer Epic Games will likely increase pressure on legislators to limit Apple's power."

For the June quarter, Apple reported record-breaking revenue of $81.4 billion and net profits of $21.7 billion.

Apple has been in the top 20 in the Fortune Global 500 rankings for eight years. In June, the company also ranked third in the Fortune 500 list of largest companies in the U.S.

Read on AppleInsider

Comments

  • Reply 1 of 8
    lkrupplkrupp Posts: 9,739member
    As our beloved @GeorgeBMac would say, “Think of all those starving Ethiopians who could be helped by this profit instead of enriching the shareholders. Oh, the immorality of Capitalism."

  • Reply 2 of 8
    Profitability is what matters.
    Go Apple! go go go...
    jas99KTR
  • Reply 3 of 8
    macxpressmacxpress Posts: 5,222member
    You can thank the 30% App Store fee for that! /s
  • Reply 4 of 8
    BeatsBeats Posts: 2,706member
    iKnockoff morons claimed Apple was a failure because Saudi Aramco was making more profit.

    Where do they move the goalposts now? Not #1 in revenue?
    lkruppbyronl
  • Reply 5 of 8
    Apple June 2021 quarter profit and revenue are much higher than a year ago. Apple's position in the ranking will get stronger next year. 
  • Reply 6 of 8
    uraharaurahara Posts: 601member
    macxpress said:
    You can thank the 30% App Store fee for that! /s
    Sure. Why won’t you open the same store and charge 40% fee? 
    You would be even reacher than apple!
    Do it bro. 
    You will be reacher thanks to your 40% fee. 
  • Reply 7 of 8
    uraharaurahara Posts: 601member
    lkrupp said:
    As our beloved @GeorgeBMac would say, “Think of all those starving Ethiopians who could be helped by this profit instead of enriching the shareholders. Oh, the immorality of Capitalism."

    If you would take all this profit and spend it on helping others, than in a couple of years Apple could feel for bankruptcy. And then Apple won’t create value for anyone. Including those many Apple’s suppliers who feed their families. 
    Secondly, why won’t you spend all your savings for helping others? Why such a hypocrite?
  • Reply 8 of 8
    macxpressmacxpress Posts: 5,222member
    urahara said:
    macxpress said:
    You can thank the 30% App Store fee for that! /s
    Sure. Why won’t you open the same store and charge 40% fee? 
    You would be even reacher than apple!
    Do it bro. 
    You will be reacher thanks to your 40% fee. 
    Apparently you don't know what /s means.... *rollseyes*
    muthuk_vanalingamMacPro
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