How profitable are American tech companies? This year's first quarter report was released.

In just one quarter (ending March 31), Apple made $23.6 billion in net income, Microsoft made $21.9 billion, Alphabet made $23.6 billion, Amazon made $10.4 billion, Meta made $12.3 billion, and Nvidia made $12.2 billion.

What a money-making machine these American companies are!

Apple reported declines in both operating revenue and net income in the second quarter of its fiscal year 2024 (the equivalent of the first quarter of 2024). Revenue was $90.753 billion, down 4% year-over-year, the fifth decline in the last six quarters. Net income was $23.636 billion, down 2% from $24.16 billion a year earlier. The net profit margin on sales was 26%.

Microsoft reported revenue of $61.86 billion, up 17% from a year earlier, and net profit of $21.94 billion, up 19.9% from a year earlier. The net profit margin on sales is 35%.

By business, the most focused intelligent cloud business revenue of $26.71 billion, an increase of 21%;

Productivity software revenue was $19.6 billion, up 12%; Personal computer revenue was $15.6 billion, up 17%.

Meta's revenue for the quarter was $36.455 billion, up 27% year-over-year; Net profit was $12.37 billion, up 117% from a year earlier; The net profit margin on sales was 34%.

Alphabet's revenue for the quarter was $80.4 billion, up 15% from a year earlier; Net income was $23.6 billion, up 57% from a year earlier; The net profit margin on sales was 29%. Search accounted for 57% of revenue, youtube advertising revenue accounted for 10%, and cloud revenue accounted for 12%.

Nvidia reported $22.1 billion in revenue in the quarter, up 265% from a year earlier. Net profit was $12.28 billion, up 769% from a year earlier; The net profit margin on sales was 55.5%.

I noticed that Nvidia's net profit margin on sales in the first quarter was as high as 55.5%!

Amazon's quarterly revenue rose 12.5% to $143.31 billion, its fastest growth in a year, while net income rose 225% to $10.431 billion.

Amazon's operating margin improved significantly to 10.7% in the quarter from 7.8% in the previous quarter, surpassing the all-time high of 8.2% in the first quarter of 2021.

The six tech companies made a combined net profit of $104.3 billion in the first quarter of 2024.