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World’s top 10 most profitable companies: ICBC beats Apple for top spot

 World’s top 10 most profitable companies ICBC.jpg

Reuters China recently reported that the company with the highest profits in the world is China’s ICBC. Apple is listed as the second most profitable company in the world despite having recently gained worldwide attention yet again with the release of the iPhone 6.

Out of the 20 most profitable companies in the world, nine are American companies. These include two banks – Wells Fargo and JPMorgan Chase – and two energy companies, Exxon Mobil and Chevron. The two technology giants Apple and Microsoft are included in the list as well as American multinational conglomerate Berkshire Hathaway.

In all, the world’s most profitable companies come from four different sectors. The list includes seven energy companies including Gazprom and Exxon Mobil Corporation and six banks including four banks with headquarters in China. The list also includes two US based telecom giants, China Mobile and Vodafone as well as tech companies Apple and Samsung.

The list of most profitable companies includes six companies from China and two companies from Russia. Of those in China, four on the list are banks: the Industrial and Commercial Bank of China, China Construction Bank, Agricultural Bank of China and Bank of China.

The Top Ten Most Profitable Companies in the World

10) Microsoft
The American tech company’s net revenues reached $22.1 billion with total revenue listed at $86.6 billion. Revenues from server products exceeded $58 billion. With the development of new cloud computing services, investors are optimistic about the future sales of Microsoft’s tablets and mobile phones.

9) BP
BP reported a net income of $23.5 billion and total revenues of $379.6 billion.

8) Bank of China
Bank of China’s net income is $25.5 billion with total revenues of $63.3 billion.

7) Agricultural Bank of China
The Chinese bank’s net income is $27.1 billion with total revenues of $68.2 billion.

6) Samsung Electronics Co.
The South Korean tech company’s net income is $27.2 billion with total revenues of $216.6 billion.

5) Exxon Mobil Corporation
The energy company reported a net income of $32.6 billion with total revenues of $393.7 billion.

4) China Construction Bank
The Chinese bank had a net income of $34.9 billion with total revenues of $76.9 billion.

3) Gazprom
The company’s net income is $35.7 billion with total revenues of $156.6 billion.

2) Apple
The American tech company’s net income is $37 billion with total revenues of $170.9 billion.

1) Industrial and Commercial Bank of China
ICBC’s net income is the highest reported at $42.7 billion. The company’s total revenues come in at $89.4 billion.

2016-06-24

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