Apple reported the largest profit on the 2024 Fortune 500.
The 2024 Fortune 500 ranked companies using revenue from fiscal years ending on or before December 31, 2023, while the profit figures likewise reflected those reporting periods. Apple led the list with roughly $97 billion in profit, placing it ahead of Berkshire Hathaway, Exxon Mobil, and Microsoft.
This is a different achievement from ranking first overall. Walmart held the No. 1 position because it generated the most revenue, whereas Apple’s exceptionally profitable hardware, software, and services ecosystem produced the largest bottom line. The iPhone remained central, but services such as the App Store, advertising, cloud offerings, and subscriptions also contributed to Apple’s earnings.
Berkshire Hathaway can be misleading in profit comparisons because its reported net income is strongly affected by changes in the market value of its investments. Fortune’s ranking uses reported company profits, so accounting volatility can make Berkshire’s position shift sharply from year to year.