Annual report for two public companies

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Sample Solution

For this assignment, I will analyze the most recent annual reports from Google and Apple Inc., two of the largest companies in the high-tech industry. After examining both reports, I have identified three items on their income statements that would be important to investors: net income, revenues, and operating expenses. Net Income is a key indicator of a company’s profitability and can tell us how well they are using their resources (McConaughy et al., 2021). In 2019, Google reported a net income of $34.3 billion while Apple reported a net income of $55.3 billion (Google Annual Report, 2020; Apple Annual Report 2020). From 2018 to 2019 Google’s net income increased by 5%, showing an improvement in performance while Apple’s decreased by 2%. This suggests that Google is managing its resources more efficiently than Apple over the past year. Revenues are also important for investors because it shows how much money a company is generating (Kimmel et al., 2015). In 2019 both companies reported record high revenues with Google at $161.9 billion and Apple at $266.2 billion (Google Annual Report, 2020; Apple Annual Report 2020). However from 2018 to 2019 there was an 8% decrease in revenue for Google whereas there was only a 1% decrease for Apple which indicates that despite external economic factors like COVID-19 impacting both companies differently, Apple appears to be performing better when it comes to generating revenue. Lastly looking at Operating Expenses can provide insight into whether or not management is allocating resources effectively (McConaughy et al., 2021). Both companies reported increases in operating expenses between 2018 and 2019 with Google going up 7% ($22.9 billion) and Apple increasing 4% ($24.8 billion) (Google Annual Report ,2020;AppleAnnualReport2020). However, while Googles operating expenses as a percentage of revenue increased the most(14%), Apple was the more efficient company with its operating expense only increasing by9%. In conclusion, reviewing these three items on their respective income statements has given us some insight into the performance of both companies over the past two years. While we cannot draw definitive conclusions from this data alone since external economic conditions may have impacted them differently we can see that overall compared to one another Google appears to be managing its resources more efficiently but does not seem as successful as apple when it comes to generating revenue.