Apple is Once Again the ‘Most Profitable Company’

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Apple has a lot of money, which it has accrued over the years from a series of smash-hit, and even record-breaking, quarters where it has sold millions of devices.

So some might not be too surprised to hear that, as ranked by Fortune, Apple has come out on top as the “most profitable company,” which means it has earned the title two years in a row. Interestingly enough, Apple earns this title despite the fact it has come in ninth place on Fortune’s Global 500 list. The most profitable company title is earned based on the company’s previous financial year.

“The world’s 500 largest companies generated $27.7 trillion in revenues and $1.5 trillion in profits in 2016. Together, this year’s Fortune Global 500 companies employ 67 million people worldwide and are represented by 34 countries.”

While Apple does come in #9 in the global rankings (it came in #3 for U.S.-based companies), in terms of sheer profitability it came out clearly on top. Meanwhile, Wal-Mart, another global leader, managed to get the #1 spot when it comes to solely revenue intake. Here’s the top 10 list:

  • Wal-Mart
  • State Grid/li>
  • Sinopec Group
  • China National Petroleum
  • Toyota Motor
  • Volkswagen
  • Royal Dutch Shell
  • Berkshire Hathaway
  • Apple
  • Exxon Mobil

On a purely profit scale (in millions), Apple’s first place position is held with a total of $45,687.0, while Wal-Mart is “only” at $13,643.0. The Industrial & Commercial Bank of China is in second place with $41,883.9 in its profits. Meanwhile, companies like Alphabet (parent company of Google) comes in ninth place in profits with $19,478.0, and Samsung is in 10th place with $19,316.5.

The Global 500 is a collection of the most powerful companies all over the planet, which all earn a boat load of money on a regular basis.

[via Fortune]