Apple CEO Tim Cook speaks on stage during an Apple product launch event on October 27, 2016 in Cupertino, California. 

 
Apple CEO Tim Cook speaks on stage during an Apple product launch event on October 27, 2016 in Cupertino, California.    - 
Listen To The Story
Marketplace

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.

“I think the best compliment I can give is not to say how much your programs have taught me (a ton), but how much Marketplace has motivated me to go out and teach myself.” – Michael in Arlington, VA

As a nonprofit news organization, what matters to us is the same thing that matters to you: being a source for trustworthy, independent news that makes people smarter about business and the economy. So if Marketplace has helped you understand the economy better, make more informed financial decisions or just encouraged you to think differently, we’re asking you to give a little something back.

Become a Marketplace Investor today – in whatever amount is right for you – and keep public service journalism strong. We’re grateful for your support.

Follow Kai Ryssdal at @kairyssdal