Apple (AAPL) Net Income History: Quarterly Data (2017–2025)
Apple quarterly net income from 2017 Q1 through 2025 Q4, sourced from SEC EDGAR XBRL. Interactive chart, year-over-year growth, and annual net income by year.
| Quarter | Net Income (USD) | YoY Change |
|---|
Source: SEC EDGAR XBRL (NetIncomeLoss). Quarters marked * are derived (annual filing minus prior three quarters). Calendar year quarters shown.
Apple Net Income: 2017–2025
Apple (AAPL) reported quarterly net income of $42.1 billion in Q4 2025 (October–December 2025), a +15.9% increase year-over-year from $36.3 billion in Q4 2024. Net income is the bottom-line profit after all expenses, interest, and taxes, and is the basis for earnings per share (EPS) calculations.
Full-year 2025 net income reached $117.8 billion, Apple’s highest annual net income on record. Apple crossed the $100 billion annual net income threshold for the first time in 2021 — and again in 2023 and 2025 — joining an extraordinarily small group of companies to have achieved sustained profitability at this scale.
Apple Annual Net Income by Year
| Year | Value | YoY Change |
|---|---|---|
| 2025 | $117.8B | +22.5% |
| 2024 | $96.2B | -4.7% |
| 2023 | $100.9B | +6.0% |
| 2022 | $95.2B | -5.4% |
| 2021 | $100.6B | +57.4% |
| 2020 | $63.9B | +11.1% |
| 2019 | $57.5B | -3.2% |
| 2018 | $59.4B | +17.6% |
| 2017 | $50.5B | — |
Calendar year totals (Q1–Q4). Source: SEC EDGAR XBRL.
Key Net Income Trends
The 2021 net income surge (+57.4% vs. 2020) reflects operating leverage from the iPhone 12 supercycle rather than a tax or one-time gain. Apple’s effective tax rate remained relatively stable through this period, so the operating income growth flowed through to net income with high fidelity.
The 2022 net income decline ($100.6B to $95.2B) is one of the few notable exceptions, driven by a combination of foreign exchange headwinds (the strong dollar reduced the translation value of international earnings), elevated component costs, and slowing Services growth. Apple’s net income recovered to $100.9B in 2023 despite effectively flat revenue, demonstrating the power of operating expense discipline.
Net income and free cash flow diverge meaningfully at Apple due to stock-based compensation and working capital dynamics. Investors tracking Apple’s actual cash generation should reference the free cash flow series alongside net income.
Frequently Asked Questions
What is Apple’s net income for Q4 2025?
Apple’s net income was $42.1 billion in Q4 2025 (October–December 2025), up 15.9% from $36.3 billion in Q4 2024.
What is Apple’s annual net income?
Apple’s full-year 2025 net income was $117.8 billion. Apple’s highest annual net income on record. Apple crossed $100 billion for the first time in 2021.
Has Apple’s net income ever declined?
Yes. Apple’s net income declined from $100.6 billion in 2021 to $95.2 billion in 2022, driven by foreign exchange headwinds, component cost inflation, and post-pandemic demand normalization.
What is the relationship between Apple’s net income and EPS?
Apple’s diluted EPS has grown faster than net income since 2013 because Apple has used free cash flow to repurchase shares, shrinking the diluted share count by over 40% and amplifying per-share earnings growth. See Apple EPS History.
Related Apple Financial Data
- Apple Revenue History
- Apple Operating Income History
- Apple Net Profit Margin History
- Apple EPS History
- Apple Free Cash Flow History
- Consumer Electronics Sector
Data sourced from SEC EDGAR XBRL. Calendar year quarters shown. Last updated: April 2026.
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