Apple tops the list for global profits in the latest Fortune 500 rankings

Apple takes the top spot in global profits (again), according to Fortune's annual ranking of U.S. companies shaping the world.

In Fortune magazine's 63rd tally of the list of Fortune 500 companies — in which firms are ranked by total revenues for their respective fiscal years — the tech giant took the third spot in revenue, behind only Walmart and Berkshire Hathaway. However, ranked by profitability, the company garnered $45.7 billion in profit, way ahead of second place J.P. Morgan Chase, which had $24.7 billion.

Apple also takes the top place in Fortune’s Most Admired Companies list and ranks number nine on Fortune’s Global 500 list. The latter is a list of the world's largest companies based on revenues and profits.