Charting Apple's Profit of Nearly $100 Billion in 2022
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Charted: Apple’s Profit of Nearly $100 Billion in 2022

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Apple's profit visualized from 2021-2022.

Charting Apple’s Profit of Nearly $100 Billion in 2022

How do Apple’s profits reach almost as high as $100 billion in a single year?

The world’s largest company, and America’s most profitable, earned a massive $394.3 billion in revenue in 2022 against expenditures of $295.5 billion. That gave it a net profit of $99.8 billion, up 5.4% from 2021 and 73% from 2020.

For a more granular look at Apple’s massive profit, Rakshit Jain has visualized Apple’s key financial metrics with data sourced from the company’s 2022 annual report (September 2022).

iPhone Sales Contribute the Most to Apple’s Profit

Out of all of Apple’s revenue streams, it’s clear the iPhone is the company’s cash cow.

From September 2021‒2022, net iPhone sales contributed 52% of the company’s total revenue, dwarfing revenue from other products including the Macbook, Apple Watch, Airpods, and services.

Apple Net Sales2021‒222020‒20212019‒2020
iPhone$205,489M$191,973M$137,781M
Mac (Macbooks and iMacs)$40,177M$35,190M$28,622M
iPad$29,292M$31,862M$23,724M
Wearables, Home, & Accessories$41,241M$38,367M$30,620M
Services (Apple Music, TV, iCloud etc.)$78,129M$68,425M$53,768M
Total$394,328M$365,817M$274,515M

And revenue from iPhone sales is still growing, by 7% from 2021 and nearly 40% compared to 2020. Mac and services such as Apple Music and Apple TV also saw higher growth in 2021-2022, both up nearly 14% year-over-year.

The iPad was the only product that saw a contraction in revenue growth compared to 2021.

Geographically, Apple’s highest net sales came from the Americas, at nearly $170 billion. In contrast, all of Europe, the Middle East, Africa, and India combined for $95 billion in annual net sales.

Apple’s Expenditure and Profitability

On the other side of the balance sheet, cost of sales (the total cost of manufacturing and selling a product or service) was the biggest expense for Apple, coming in at $223.5 billion or 76% of the company’s expenditures.

Apple Expenditures2021‒222020‒212019‒2020
Cost of Sales$223,546M$212,981M$169,559M
R&D$26,251M$21,194M$18,752M
Selling, general, and administrative$25,094M$21,973M$19,916M
Provisions for taxes$19,300M$14,527M$9,680M
Other Expenses/(Income)$334M($258M)($803M)
Total$294,525M$270,417M$217,104M

Comparatively, research and development ($26 billion) as well as other operating costs ($25 billion), though both giant figures for most companies, accounted for less than 18% of Apple’s expenditures. And because of this massive windfall, the company’s provisions for income taxes were also a massive $19 billion.

The key to Apple’s profitability is how its strong brand has allowed it to tap into an excellent gross margin percentage. The company’s total gross margin was $171 billion in 2022 or 43.3%, which means for every dollar of revenue earned, Apple made 43 cents in gross profit.

Apple's Gross Margin2021‒20222022 (%)2020‒20212021 (%)
Products$114,728M36.3%$105,126M35.3%
Services$56,054M71.7%$47,710M69.7%
Total$170,782M43.3%$152,836M41.8%

And this figure is even higher when looking at the segmental break-up of gross margins. In the services category (Apple music, TV, iCloud etc.), Apple made almost 72 cents in gross profit for every dollar earned in revenue.

Apple’s Profits in 2023?

Whether Apple will break $100 billion in profit is a question that can only be answered in their next annual statement, due in September 2023.

However, in its latest report, Apple did warn of “downward pressure” on its margins—which will impact profitability in 2023—because of currency fluctuations.

But even if that elusive $100 billion annual profit proves evasive, Apple stock remains a favorite for retail investors and shareholders alike.

Keen to know how Apple’s financials stack up against other tech giants? Check out How Big Tech Revenue and Profit Breaks Down, by Company for comparisons between Amazon, Google, Microsoft and Apple.
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This article was published as a part of Visual Capitalist's Creator Program, which features data-driven visuals from some of our favorite Creators around the world.

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Ranked: The Most Popular Web Browsers

Chrome dominates with a lion’s share of the global web browsing market, followed by Safari and others.

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This infographic shows the world's most popular web browsers across all devices, based on market share in 2025.

Visualized: The Most Popular Web Browsers in 2025

This was originally posted on our Voronoi app. Download the app for free on iOS or Android and discover incredible data-driven charts from a variety of trusted sources.

Since the launch of the pioneering Mosaic browser in 1993, web browsing has become the gateway to almost everything on the internet.

With growing internet access globally, browser usage has changed significantly over time, with newer, faster browsers phasing out older incumbents.

This infographic highlights the most popular browsers by market share in 2025, using data from StatCounter. Market share is based on the share of total page views served to each browser as of April 2025.

The Dominance of Google Chrome

Internet Explorer was once the king of browsers, with over a 90% share of the browser market in the early 2000s when Microsoft’s Windows 95 operating system was widespread.

Internet Explorer initially faced competition from Mozilla Firefox (released in 2004). However, ultimately, Google Chrome took the browsing market by storm in 2008, and has been the undisputed leader since overtaking Internet Explorer in 2012.

Here’s how Chrome’s dominance compares with other popular browsers in 2025:

BrowserCompanyMarket Share (April 2025)
ChromeGoogle 🇺🇸66%
SafariApple 🇺🇸17%
EdgeMicrosoft 🇺🇸5%
FirefoxMozilla 🇺🇸3%
Samsung InternetSamsung 🇰🇷2%
OperaOpera 🇳🇴2%
Other-5%

Chrome accounts for 66% of the global browser market in 2025, and has maintained its share of over 60% since 2019. Apple’s Safari follows with a 17% share, down from its peak of nearly 20% in 2023.

Meanwhile, Microsoft Edge, which replaced Internet Explorer as the default Windows browser in 2015, has been steadily gaining market share, up from 1.5% in 2020 to over 5% in 2025.

Firefox, once a major player, now holds just 3% of the market, its lowest in over a decade. Other niche browsers include Samsung Internet for Android devices, and the Opera Browser.

In case you’re wondering about Internet Explorer, it’s still in use in 2025, though with just a fractional 0.11% share of global web browsing.

How Browsers Are Adopting AI

The average browsing experience is set to see a significant change as companies incorporate AI tools in their browsers.

For example, Microsoft has integrated a Copilot (Microsoft’s AI chatbot) extension into Edge, which can summarize webpages, offer context on what users are reading, and interact through both voice and chat.

Meanwhile, Chrome is exploring a “built-in AI” program for web developers, while offering various generative AI features and smart search results to regular users.

Learn More on the Voronoi App

If you enjoyed this infographic, check out this graphic showing the growth of Internet Usage Over Time, on the Voronoi app.

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