Apple Is Now More Profitable Than Microsoft ("Bill, Thank You. The World's a Better Place.")
“I will make more profits and certainly there is no technology company in the planet which is as profitable as we are.”
What was unimaginable just a decade ago has finally occured. Apple is now more profitable than Microsoft.
Posting earnings for its most recent quarter Thursday, Microsoft reported net income of $5.23 billion on revenues of $16.42 billion. Which turned out to be significantly less than the net profit of $5.99 billion on revenues of $24.67 billion Apple turned in last week.
Another remarkable–and remarkably ironic–milestone for Apple, which surpassed Microsoft in market cap last May. It was Microsoft, after all, that breathed new life into a struggling Apple back in 1997 with a $150 million investment in the company (see video below). What was it Bill Gates said at the time? “We think Apple makes a huge contribution in the computer industry. And we think it’s going to be a lot of fun helping out.”
