>The Company’s total net sales were $383.3 billion and net income was $97.0 billion during 2023.
Because $97B is < $100B, it is impossible for AAPL to have earned $100B net income just from the App Store (because we also know its other divisions do not lose money, again according to the 10-K they filed).
You can put an even stricter limit on it than that - net sales for services is listed as $85B, and they state
> Therefore, the Company accounts for all third-party application–related sales on a net basis by recognizing in Services net sales only the commission it retains.
So the commissions are <=$85B. Given the $1.1T number is from Apple, that implies the average commission rate is <15% (many categories of app excluded from commissions perhaps?).
They list gross margin for services to be $60B but I don't see where they break down net profit with greater granularity or "per division" (the word division does not seem to appear in the 10-K). For example they could make $80B in App Store commission, sell $5B in other services, make $80B in profit from commission, but lose $20B on other services, and that would still be consistent with the numbers in the 10-K, right? And those numbers presumably don't include indirectly related operating expenses which totaled $55B.
Apple has not revealed how profitable the App Store really is, but either way it's a LOT of profit, certainly enough to warrant expensive attorneys and stalling implementing this legislation in good faith for as long as possible.
>The Company’s total net sales were $383.3 billion and net income was $97.0 billion during 2023.
Because $97B is < $100B, it is impossible for AAPL to have earned $100B net income just from the App Store (because we also know its other divisions do not lose money, again according to the 10-K they filed).