Last updated on December 8th, 2022 at 02:23 pm
Apple ranked 12th in the Fortune Global 500 by revenue and 3rd by profit
Apple ranked third in the annual Fortune Global 500 list of the world’s largest companies in terms of profit and twelfth in terms of revenue. The Fortune Global 500 ranking includes the 500 largest companies in the world and is based on revenue. Inclusion on this list is a great achievement for the company. Experts use their data to assess the strengths and competitiveness of well-known companies in the global market.
The combined operating profit of the Fortune Global 500 companies hit a record of $ 33 trillion this year, close to the combined GDP of China and the United States. Fortune Global 500 companies currently employ 69.9 million people in 32 countries. For the seventh year in a row, Wal-Mart has taken the top spot in the ranking.
Apple’s revenue amounted to $ 260.174 billion, the profit volume reached $ 55.256 billion. In terms of profit, Apple is second only to the investment company Berkshire Hathaway and the oil giant Saudi Aramco. By the way, Berkshire Hathaway owns 5.7% of Apple shares, which make up more than a fifth of its total value.
Despite Apple’s slight decline in the past fiscal year, Fortune 500 participation confirms Apple’s ability to make money. The iPhone continues to dominate sales, and subscription services are fast becoming an important part of the company’s business model.
Apple currently employs about 137,000 employees and recently reported better- than- expected fiscal third-quarter revenues of $ 59.7 billion and a net income of $ 11.25 billion.
Apple has been in the top 20 Fortune Global 500 companies since 2013. Last year, the company was one position higher in revenue and profit. But in May, Apple dropped to fourth place in America’s Fortune 500 list. At the same time, Apple has been in the top five for seven consecutive years.
We add that this year China (together with Hong Kong) has outstripped the United States in the total number of companies included in the latest version of the Fortune Global 500 ranking.
