Despite having made $259.4 million profits per day in FY2022; more than Microsoft and Amazon combined, Apple is still not the most profitable company in the world.
The findings come from the research team at Cloud Peak Law Group which analyzed the profits made by every firm on the Fortune 500 during their most recent fiscal year to determine the most profitable U.S. company in every industry.
The 2022 fiscal year began on Sept. 26, 2021, and ended on Sept. 24, 2022.
How Apple fared
Apple made it to the top with $94.68 billion in profits.
In contrast Microsoft reported $61.27 billion in profits, while Amazon made $33.36 billion in FY2022
This turns out to be $259.4 million per day in profits for the iPhone maker.
Last year, Apple launched the new iPhone 14 series, and the new MacBook Air with M2 Chip.
Profits at the time were 64.9% higher than the profits earned during the 2021 fiscal year.
At least it has the title of being the most profitable technology company.
Google’s parent company Alphabet comes close, with $76.03 billion in profits earned this past year.
The Most Profitable Company in the World
Saudi Aramco, a petroleum and natural gas company, is the world’s most profitable company
Some of the world’s most profitable companies are also oil and gas companies, Given the Russia Ukraine war, supply from Russia has also decreased.
Combined with the two factors, oil and gas prices strengthened in 2022 and many oil and gas companies realized more profits than 2021 as a result.
It earned $105.37 billion during the most recent fiscal year.
Itt has overtaken Apple’s $95.68 billion profit, making the latter the second most profitable corporation in the world.
Drivers of profits
Apple Services recorded a revenue of $79.4 billion in 2022
This was generated from services including Apple Cloud, Apple TV, Apple App Store, Apple Music, Apple Arcade, and Apple Fitness+.
Apple Services total revenue was worth more than that of the combined Fortune 500 companies such as Nike and McDonald’s.
To conclude, the United States Can potentially generate higher margins than similar companies with less scale.
This is thanks to their huge markets that they can gain significant scale.
25 Companies That Make the Most Money in the World
25. Tencent
China’s social media leader given its super app, WeChat, has almost 1.3 billion monthly active users with the majority in China.
24. BHP Group
leading Australian mining company that’s also the largest company by revenue in Australia
23. PetroChina
one of China’s largest oil and gas companies with substantial scale
22. Taiwan Semiconductor Manufacturing Company Limited
leading maker of advanced semiconductor chips that is used in many of today’s most advanced industries
21. Pfizer
leading maker of various biopharmaceutical products that the company sells across developed and emerging markets
20. Met
a social media giant given its popular apps such as Facebook and Instagram
19. Gazprom
leading state owned Russian oil and gas company
18. Maersk
Top integrated logistics company
For FY2021 it had a net profit after tax of $18 billion.
17. Bank of China
One of China’s big four state owned banks.
16. Samsung
One of South Korea’s tech giants that’s also among the most profitable companies in the world.
15. Agricultural Bank of China
another giant state owned Chinese bank with hundreds of millions of customers and substantial earnings power
14. TotalEnergies
Leading European energy company that has benefited from the rise in oil and gas prices in 2022
13. JPMorgan Chase & Co
One of America’s leading banks.
12. Chevron
Oil and gas super major that has benefited from the increases in oil and gas prices in 2022
11. Pampa Energia
Leading energy company in Argentina.
10. Petrobras
State owned oil and gas company in Brazil which made $53.48 billion
