Final Note

Apple reports record profits in first quarter

Kai Ryssdal Jan 31, 2017
HTML EMBED:
COPY
Apple CEO Tim Cook speaks on stage during an Apple product launch event on October 27, 2016 in Cupertino, California.    Stephen Lam/Getty Images
Final Note

Apple reports record profits in first quarter

Kai Ryssdal Jan 31, 2017
Apple CEO Tim Cook speaks on stage during an Apple product launch event on October 27, 2016 in Cupertino, California.    Stephen Lam/Getty Images
HTML EMBED:
COPY

Last year wasn’t a particularly good one for Apple. There was the $14.5 billion tax bill from the Irish government, and some new products saw disappointing sales.

But any warnings of Apple’s demise continuing into this year, as it turns out, were somewhat exaggerated. The company reported record profits from their first quarter today.

It was Apple’s most profitable quarter ever, raking in $78.4 billion. It also sold 78 million iPhones in the three months leading up to New Year’s Eve — more than any previous quarter.

Net income was almost $18 billion. In other words, a license to print money.

We’re here to help you navigate this changed world and economy.

Our mission at Marketplace is to raise the economic intelligence of the country. It’s a tough task, but it’s never been more important.

In the past year, we’ve seen record unemployment, stimulus bills, and reddit users influencing the stock market. Marketplace helps you understand it all, will fact-based, approachable, and unbiased reporting.

Generous support from listeners and readers is what powers our nonprofit news—and your donation today will help provide this essential service. For just $5/month, you can sustain independent journalism that keeps you and thousands of others informed.

Latest Episodes From Our Shows

7:59 AM PDT
9:34
3:00 AM PDT
7:54
7:57 AM PDT
1:50
Sep 21, 2021
26:33
Sep 21, 2021
30:05
Sep 21, 2021
3:40
Aug 26, 2021
34:03