# The first profit was the starting gun

Split-adjusted Yahoo Finance closes (not dividend-adjusted). Price then = first close after the profit was public. Now = close 2026-10-21.

| # | Company | Profit quarter | Reported | Price then | Now | Multiple | Years | CAGR |
|---|---|---|---|---|---|---|---|---|
| 1 | Apple | Dec qtr 1997 (Q1 FY98): $47M GAAP net income. Return to profit after 7 losing quarters, not first ever (pre-announced 6 Jan 1998 at Macworld) | 1998-01-14 | $0.1713 | $343.99 | x2,008 | 28.8 | 30%/yr |
| 2 | Amazon | Q4 2001: $5.1M GAAP net income, first ever | 2002-01-22 | $0.63 | $262.37 | x416 | 24.7 | 28%/yr |
| 3 | Netflix | Q2 2003: $3.3M GAAP net income, first ever (guided 9 Jun 2003) | 2003-07-17 | $0.1725 | $65.04 | x377 | 23.3 | 29%/yr |
| 4 | Tesla | Q1 2013: $11.2M GAAP net income, first ever. Helped by a one-time $10.7M warrant gain and ZEV credits; losses came back after | 2013-05-08 | $4.63 | $386.47 | x83.5 | 13.5 | 39%/yr |
| 5 | Priceline (now Booking) | Q2 2001: $2.8M GAAP net income, first ever | 2001-07-31 | $2.28 | $158.38 | x69.3 | 25.2 | 18%/yr |
| 6 | Palantir | Q4 2022: $31M GAAP net income, first ever | 2023-02-13 | $9.22 | $201.72 | x21.9 | 3.7 | 131%/yr |
| 7 | Tesla, streak start | Q3 2019: $143M GAAP net income. Not first ever; every quarter since has been profitable | 2019-10-23 | $19.98 | $386.47 | x19.3 | 7.0 | 53%/yr |
| 8 | Robinhood | Q2 2023: $25M GAAP net income, first as a public company | 2023-08-02 | $11.54 | $101.93 | x8.8 | 3.2 | 97%/yr |
| 9 | Spotify | Q4 2018: EUR 94M first operating profit (net income already positive in Q3 2018, EUR 43M) | 2019-02-06 | $135.45 | $525.34 | x3.9 | 7.7 | 19%/yr |

## Day one

| Company | Close before | First close after | Day one |
|---|---|---|---|
| Tesla | $3.72 | $4.63 | +24.4% |
| Amazon | $0.508 | $0.63 | +24.0% |
| Palantir | $7.61 | $9.22 | +21.2% |
| Tesla, streak start | $16.98 | $19.98 | +17.7% |
| SpaceX | $147.79 | $159.31 | +7.8% |
| Priceline (now Booking) | $2.13 | $2.28 | +7.3% |
| Apple | $0.1763 | $0.1713 | -2.8% |
| Spotify | $139.40 | $135.45 | -2.8% |
| Netflix | $0.1806 | $0.1725 | -4.5% |
| Robinhood | $12.44 | $11.54 | -7.2% |

## Didn't run

| Company | Profit quarter | Then | Now | Multiple | Years |
|---|---|---|---|---|---|
| Shopify | Q2 2020: $36.0M GAAP net income. Not first ever: Q4 2019 had $0.8M | $105.36 | $174.29 | x1.65 | 6.2 |
| Uber | Q2 2023: $326M first GAAP operating profit (GAAP net income already positive in Q4 2021 from investment gains) | $46.65 | $67.62 | x1.45 | 3.2 |
| Airbnb | Q3 2021: $834M GAAP net income, first profit as a public company | $172.87 | $173.69 | x1.00 | 5.0 |

## SpaceX

Q2 2026 net loss $541M. Q3 2026 GAAP net income $4.404B, released 20 Oct after the close. First close after: 21 Oct $159.31 (+7.8% from $147.79).
Caveat: includes $1.025B other income and a $390M tax benefit. Income from operations $2.791B.

Sources:
- Apple: https://www.wired.com/1998/01/its-official-apple-reports-a-profit/
- Amazon: https://money.cnn.com/2002/01/22/technology/amazon/
- Netflix: https://www.sec.gov/Archives/edgar/data/1065280/000119312503020678/dex991.htm
- Tesla: https://ir.tesla.com/press-release/tesla-motors-reports-first-quarter-2013-results
- Priceline (now Booking): https://www.bizjournals.com/
- Palantir: https://www.sec.gov/Archives/edgar/data/1321655/000132165523000005/a2022q4ex991pressrelease.htm
- Tesla, streak start: https://ir.tesla.com/
- Robinhood: https://www.sec.gov/Archives/edgar/data/1783879/000178387923000173/q22023robinhoodexhibit991.htm
- Spotify: https://www.sec.gov/Archives/edgar/data/1639920/000119312519028762/d623759dex991.htm
- Shopify: https://www.sec.gov/Archives/edgar/data/1594805/000159480520000039/exhibit991pressrelease.htm
- Uber: https://www.sec.gov/Archives/edgar/data/1543151/000154315123000021/uberq223earningspressrelea.htm
- Airbnb: https://www.sec.gov/Archives/edgar/data/1559720/000119312521320113/d245727dex991.htm
- SpaceX Q3 release: https://s21.q4cdn.com/184289198/files/content_files/SpaceX-Reports-Third-Quarter-2026-Results.pdf
- SpaceX 8-K: https://www.sec.gov/Archives/edgar/data/1181412/000162828026066482/spaceexplorationtechnologi.htm

Panke · tape.panke.app · @spcxgod