earnings


'earnings' Articles

Apple Has 4 Million Users Beta Testing its Software

Apple has been allowing developers and members of the public to test beta versions of new iOS, macOS, watchOS, and tvOS releases for quite some time now, and during today's earnings call, Apple CEO Tim Cook provided insight into just how many people try out new software ahead when it's officially released. At the current time, Apple has "over 4 million users" participating in its OS beta programs, according to Cook. Public beta testers have access to iOS 12, macOS Mojave, and tvOS 12, three operating system updates that will be rolling out this fall after an extended beta testing period, while developers have access to iOS 12, macOS Mojave, tvOS 12, and watchOS 5. watchOS 5, a new software update for the Apple Watch, is limited to developers because it's not possible to downgrade the software on an Apple Watch. Public beta testers and developers are tasked with testing Apple's software to help the company suss out bugs and improve features ahead of a public launch. Apple did not break out how many users participate in each of its beta programs, nor what percentage of those users are developers or public beta testers, but it's probably safe to say that iOS gets the lion's share of interest. Despite Apple's robust beta testing process, there are still major bugs that slip through on occasion, but Apple offers frequent fixes and updates for all of its operating

Apple CEO Tim Cook 'The Smartphone Market is Very Healthy'

During today's earnings call covering the third fiscal quarter of 2018, Apple CEO Tim Cook was questioned about the health of the smartphone market and the impact the company's choice to offer low-cost battery replacements might have on replacement cycles. In response, Cook said that he believes the smartphone market is "very healthy. "It's the best market to be in for someone in the business that we're in," said Cook. "Whether it grows one percent or two percent or five percent or six percent or 10 percent or shrinks one or two percent, it's a great market because it's just huge." iPhone revenue, Cook pointed out, was up 20 percent during the quarter compared to the third quarter of 2017, and Apple has seen mid-single digit growth averages on a weekly sales basis and double-digit growth on an ASP basis. Apple sold a total of 41.3 million iPhones during the quarter, bringing in revenue of nearly $30 billion. The iPhone X continued to be the most popular iPhone during the quarter. Cook said that he does believe replacement cycles are lengthening, and he says the "major catalyst" for that has been the fact that subsidized plans have become a much smaller percentage of total sales around the world. Apple's goal is to make great products to encourage customers to purchase new devices.I think for us, the thing we always have to do is come out with a really great, innovative product. I think iPhone X shows that when you deliver that, there's enough people out there that will like that, and it can be a really great business.In a separate response given to a question

Apple CEO Tim Cook on Tariffs: 'We're Hoping Calm Heads Prevail'

Apple CEO Tim Cook this afternoon spoke about the tariffs the United States has imposed on goods imported from China, and how Apple might be impacted. Cook said that while Apple believes the trade agreements the United States has with other major economies are in need of modernization, the company does not think that tariffs are the right approach. "We're sort of encouraging dialogue and so forth," said Cook. Apple CEO Tim Cook with Donald Trump at the Executive Tech Summit at Trump Tower in December 2016 In terms of the three tariffs that have already been put in place that impact steel, aluminum, and $50B worth of additional goods from China, none of Apple's products have been directly impacted. A fourth tariff on $200 billion in Chinese goods is out for public comment, and Apple says it is evaluating the tariff and will be sharing its views on it with the administration before the end of the comment period. The original Apple Watch has been named in the latest proposal, alongside devices that include the Fitbit charge and some Sonos speakers. Apple has already discontinued its original Apple Watch and newer Apple Watch models are not impacted. Cook said that examining tariffs is a "tedious process" because there are factors to consider that include not only revenue, but also purchases being made through other companies unrelated to revenue, such as data centers. Apple plans to share its results at a later date. According to Cook, the risk associated with a macroeconomic issue like an economic slowdown or currency fluctuation is difficult to quantify,

Apple Pay Coming to Germany, Also Set to Launch at CVS and 7-11 Later This Year

During today's earnings call for the third quarter of 2018, Apple CEO Tim Cook said that Apple plans to bring Apple Pay to Germany later this year. Apple Pay support in Germany has been rumored for some time now as Apple has been working to establish deals over fees and other factors with German banks. Apple did not provide details on exactly when Apple Pay will launch in Germany, but it could come potentially with the debut of iOS 12 in September. In addition to announcing Apple Pay's upcoming German launch, Cook also said that Apple Pay will be rolling out at CVS drug stores and 7-11 convenience stores in the United States later in the year. There were upwards of 1 billion Apple Pay transactions in the third quarter of 2018, triple the amount from the year ago with growth accelerating from the March quarter. Cook said that in Q3 2018, there were more Apple Pay transactions than Square transactions, and more mobile transactions than PayPal. Apple Pay is now available in more than 20 countries, including United States, the United Kingdom, Australia, Canada, Singapore, Switzerland, Hong Kong, France, Russia, China, Japan, New Zealand, Spain, Taiwan, Ireland, Italy, Denmark, Finland, Sweden, UAE, Brazil, Ukraine, Norway, and

Apple's Wearable Category Sees 60% Growth Year-Over-Year, With Revenue Exceeding $10B Over Last Four Quarters

Apple's "Other Products" category, which includes AirPods, Apple TV, Apple Watch, iPod touch, HomePod, Beats products, and Apple-branded and third-party accessories brought in $3.74 billion in revenue during the third quarter of 2018, up an impressive 37 percent percent compared to the year-ago quarter. Apple does not break down the specific sales numbers of products in the "Other" category, which makes it difficult to determine specific sales numbers for products like the HomePod, AirPods, and the Apple Watch, but Apple CEO Tim Cook this afternoon provided some insight into Apple's wearable business. Revenue from wearables, which includes the Apple Watch and AirPods, saw 60 percent growth year over year, according to Cook. Wearables revenue also exceeded $10 billion over the course of the last four quarters. Apple Watch had a record-breaking June quarter with revenue growth in the mid 40 percent range. The Apple Watch's record-breaking June quarter comes just weeks ahead of when Apple is expected to introduce a whole new model, with a larger display, better heart rate tracking, and other improved features as outlined in our Apple Watch roundup. Cook didn't go into details on the AirPods, but he said Apple is "thrilled" to see so many customers using AirPods. "It reminds me of the early days of the iPod," he said. "When I saw those white earbuds everywhere I

Apple Reports 3Q 2018 Results: $11.5B Profit on $53.3B Revenue and 41.3M iPhones

Apple today announced financial results for the third fiscal quarter of 2018, which corresponds to the second calendar quarter of the year. For the quarter, Apple posted revenue of $53.3 billion and net quarterly profit of $11.5 billion, or $2.34 per diluted share, compared to revenue of $45.4 billion and net quarterly profit of $8.7 billion, or $1.67 per diluted share, in the year-ago quarter. Gross margin for the quarter was 38.3 percent compared to 38.5 percent in the year-ago quarter, with international sales accounting for 60 percent of revenue. Apple also declared a quarterly dividend payment of $0.73 per share, payable on August 16 to shareholders of record as of August 13. Apple sold 41.3 million iPhones during the quarter, up slightly from 41.0 million a year earlier, while Mac sales fell to 3.72 million units from 4.29 million units in the year-ago quarter. iPad sales rose slightly to 11.55 million from 11.42 million.“We’re thrilled to report Apple’s best June quarter ever, and our fourth consecutive quarter of double-digit revenue growth,” said Tim Cook, Apple’s CEO. “Our Q3 results were driven by continued strong sales of iPhone, Services and Wearables, and we are very excited about the products and services in our pipeline.”Apple's guidance for the fourth quarter of fiscal 2018 includes expected revenue of $60–62 billion and gross margin between 38 and 38.5 percent. Apple will provide live streaming of its fiscal Q3 2018 financial results conference call at 2:00 PM Pacific, and MacRumors will update this story with coverage of the conference call

Apple Expected to Report Its Best Third Quarter Ever Today

Apple is set to report its earnings results for the third quarter of its 2018 fiscal year at 1:30 p.m. Pacific Time today. The quarter began April 1, 2018 and ran through June 30, 2018, according to Apple's fiscal year accounting calendar. Apple provided the following guidance for the quarter back on May 1:revenue of $51.5 billion to $53.5 billion gross margin between 38 and 38.5 percent op. ex. of $7.7 billion to $7.8 billion other income/expense of $400 million tax rate of approximately 14.5 percentApple's guidance suggests it will report its best third quarter results ever, by revenue, comfortably topping its 2015 record of $49.6 billion: 2014: $37.4 billion 2015: $49.6 billion 2016: $42.4 billion 2017: $45.4 billion 2018: $51.5+ billion Wall Street analysts forecast that Apple will report $52.3 billion revenue, meeting roughly the midpoint of its guidance, and earnings per share of $2.18, according to 29 estimates averaged by Yahoo Finance. Key Takeaways and What to Look ForiPhone unit sales of around 41.7 million, according to a FactSet estimate. Apple doesn't break out iPhone sales on a model-by-model basis, but the iPhone's average selling price should reveal whether the iPhone X remains Apple's best selling iPhone model since it launched, or if sales have slowed. iPhone ASP was $728 last quarter. $606 in year-ago quarter. iPad unit sales should be boosted by the new sixth-generation 9.7-inch iPad, released March 27, just four days before the third quarter. Apple's guidance for its fourth quarter, which runs from July 1 through September 29, as

Apple to Announce Third Quarter 2018 Earnings Results on July 31

Apple today updated its investor relations page to announce that it will share its earnings results for the third fiscal quarter (second calendar quarter) of 2018 on Tuesday, July 31. The earnings release will provide a look at continued sales of the iPhone X, iPhone 8, and iPhone 8 Plus, along with data on how well the new low-cost 9.7-inch iPad is doing. Apple's guidance for the third fiscal quarter includes expected revenue of $51.5 to $53.5 billion and gross margin between 38 and 38.5 percent. Based on those guidance numbers, Apple will beat its Q3 2017 earnings results. Apple's quarterly earnings statement will be released at 1:30 p.m. Pacific/4:30 p.m. Eastern, with a conference call to discuss the report taking place at 2:00 p.m. Pacific/5:00 p.m. Eastern. MacRumors will provide coverage of both the earnings release and conference call on July

Apple Reports Q2 2018 Results: $13.8B Profit on $61.1B Revenue, 52.2M iPhones

Apple today announced financial results for the second fiscal quarter of 2018, which corresponds to the first calendar quarter of the year. For the quarter, Apple posted revenue of $61.1 billion and net quarterly profit of $13.8 billion, or $2.73 per diluted share, compared to revenue of $52.9 billion and net quarterly profit of $11.0 billion, or $2.10 per diluted share, in the year-ago quarter. The revenue, profit, and earnings per share numbers were records for any second fiscal quarter in the company's history. Gross margin for the quarter was 38.3 percent, compared to 38.9 percent in the year-ago quarter, with international sales accounting for 65 percent of revenue. Apple also declared an increased quarterly dividend payment of $0.73 per share, up from $0.63. The dividend is payable on May 17 to shareholders of record as of May 14. In addition to the increase in the dividend payment, Apple says it will start a new share repurchase authorization of $100 billion and the company says it expects to wrap up its previous $210 billion repurchase authorization by the end of the current quarter. For the quarter, Apple sold 52.2 million iPhones, compared to 50.8 million in the year-ago quarter. iPad sales were up slightly to 9.1 million, up from 8.9 million a year ago, while Mac sales slipped to 4.1 million from 4.2 million.“We’re thrilled to report our best March quarter ever, with strong revenue growth in iPhone, Services and Wearables,” said Tim Cook, Apple’s CEO. “Customers chose iPhone X more than any other iPhone each week in the March quarter,

Apple Expected to Report Best-Ever Second Quarter Today With Anticipated Clues About iPhone X Sales

Apple is set to report its earnings results for the second quarter of its 2018 fiscal year at 1:30 p.m. Pacific Time today. The quarter began December 31, 2017 and ended March 31, 2018, according to Apple's fiscal year accounting calendar. Apple provided the following guidance for the quarter back on February 1:revenue between $60 billion and $62 billion gross margin between 38 and 38.5 percent operating expenses between $7.6 billion and $7.7 billion other income/expense of $300 million tax rate of approximately 15 percentApple's guidance suggests the company will report its best second quarter results ever, topping its previous record of $58 billion: 2014: $45.6 billion 2015: $58.0 billion 2016: $50.6 billion 2017: $52.9 billion 2018: $60+ billion Wall Street analysts forecast that Apple will report $60.9 billion revenue, meeting roughly the midpoint of its guidance, and earnings per share of $2.69, according to over 30 estimates averaged by Yahoo Finance. MacRumors has compiled second quarter revenue and EPS estimates from a handful of Apple-focused analysts: Key Takeaways and What to Look ForApple is expected to report iPhone unit sales of 51.9 million, a roughly two percent increase over 50.8 million in the year-ago quarter, according to average analyst estimates compiled by Bloomberg. Apple doesn't break out iPhone sales on a model-by-model basis, but the iPhone's average selling price should reveal whether there's any truth to reports that iPhone X sales have slowed significantly. iPhone ASP was $796 last quarter, up from $695 a year earlier.

Apple to Announce Q2 2018 Earnings on May 1

Apple today updated its investor relations page to announce that it will share its earnings results for the second fiscal quarter (first calendar quarter) of 2018 on Tuesday, May 1. The earnings release will provide a look at sales of the iPhone 8, iPhone 8 Plus, and iPhone X following its record January quarter that saw the company sell 77.3 million iPhones. Apple's guidance for the second fiscal quarter includes expected revenue of $60 to $62 billion and gross margin between 38 and 38.5 percent. Apple will beat its Q2 2017 earnings results based on those guidance numbers. Apple's quarterly earnings statement will be released at 1:30 p.m. Pacific/4:30 p.m. Eastern, with a conference call to discuss the report taking place at 2:00 p.m. Pacific/5:00 p.m. Eastern. MacRumors will provide coverage of both the earnings release and conference call on May

App Store, Apple Music, iCloud and Apple Pay Set All Time Quarterly Revenue Records in Q1 2018

Apple's services category continues to grow rapidly, and in the first fiscal quarter of 2018, Apple services, which includes iTunes, the App Store, Apple Music, iCloud, Apple Pay, and AppleCare, saw revenue of $8.5 billion, up 18 percent year over year. The App Store saw its best holiday season ever, and Q1 2018 marked the best quarter ever for not only the App Store, but also Apple Music, iCloud, and Apple Pay. Apple Music, iCloud, and Apple Pay all saw significant growth in active users. Paid subscriptions passed 240 million by the end of the December quarter, which Apple says is an increase of $30 million in the last 90 days alone, the largest quarterly growth ever. Apple CEO Tim Cook says Apple is well on its way to reaching its goal to double its services revenue by

Apple Reports Record Results for 1Q 2018: $20B Profit on $88B Revenue, 77.3M iPhones

Apple today announced financial results for the first fiscal quarter of 2018, which corresponds to the fourth calendar quarter of 2017. For the quarter, Apple posted revenue of $88.3 billion and net quarterly profit of $20.1 billion, or $3.89 per diluted share, compared to revenue of $78.4 billion and net quarterly profit of $17.9 billion, or $3.36 per diluted share, in the year-ago quarter. The revenue and earnings per share numbers were company records for any quarter in the company's history. Gross margin for the quarter was 38.4 percent, compared to 38.5 percent in the year-ago quarter, with international sales accounting for 65 percent of revenue. Apple also declared an upcoming dividend payment of $0.63 per share, payable February 15 to shareholders of record as of February 12. For the quarter, Apple sold 77.3 million iPhones, compared to 78.3 million in the year-ago quarter. iPad sales were up slightly to 13.2 million, up from 13.1 million a year ago, and Mac sales slipped to 5.1 million from 5.4 million.“We’re thrilled to report the biggest quarter in Apple’s history, with broad-based growth that included the highest revenue ever from a new iPhone lineup. iPhone X surpassed our expectations and has been our top-selling iPhone every week since it shipped in November,” said Tim Cook, Apple’s CEO. “We’ve also achieved a significant milestone with our active installed base of devices reaching 1.3 billion in January. That’s an increase of 30 percent in just two years, which is a testament to the popularity of our products and the loyalty and

Apple Expected to Report Highest Revenue in Single Quarter in Company's History

Apple is set to report its earnings results for the first quarter of its 2018 fiscal year at 1:30 p.m. Pacific Time on Thursday. The quarter reflects Apple's sales between October 1 and December 30 of 2017. Apple provided the following guidance for the quarter back on November 2: • revenue between $84 billion and $87 billion • gross margin between 38 and 38.5 percent • operating expenses between $7.65 billion and $7.75 billion • other income/expense of $600 million • tax rate of 25.5 percentApple's guidance suggests the company will easily beat its current all-time quarterly revenue record of $78.4 billion set a year ago. Wall Street analysts forecast that Apple will report $87.06 billion revenue and earnings per share of $3.83, according to 29 estimates averaged by Yahoo Finance. A quarter-by-quarter look at Apple's revenue since the 2009 calendar year:Apple's FY Q1 Rev. • 2014: $57.6B • 2015: $74.6B • 2016: $75.9B • 2017: $78.4B • 2018: $84B+ MacRumors has compiled fiscal first quarter estimates from several financial institutions and analysts tracking Apple's earnings results and stock. Key Takeaways and What to Look For • Was the iPhone X a hit? Apple began taking iPhone X orders on October 27, roughly four weeks after the quarter began, so investors will be closely examining Apple's total number of iPhones sold to see if the flagship smartphone had a measurable impact. Apple doesn't reveal iPhone sales on a model-by-model basis, however, so its total will include sales of the iPhone 8, iPhone 8 Plus, and older models in its smartphone

Apple to Announce Q1 2018 Earnings on February 1

Apple today updated its investor relations page to announce that it will share its earnings results for the first fiscal quarter of 2018 on Thursday, February 1. The earnings report will give us our first real look at iPhone X sales, as well as sales of the iPhone 8 and the iPhone 8 Plus throughout the holiday quarter. The iPhone X did not go on sale until November 3, and it was not included in Apple's fourth quarter earnings report. Guidance for the first fiscal quarter of 2018 includes expected revenue of $84 to $87 billion and gross margin between 38 and 38.5 percent. It will be a record setting quarter even at the low end of the guidance range, as Apple saw $78.4 billion in revenue in Q1 2017. Apple's quarterly earnings statement will be released at 1:30 p.m. Pacific/4:30 p.m. Eastern, with a conference call to discuss the report taking place at 2:00 p.m. Pacific/5:00 p.m. Eastern. MacRumors will provide coverage of both the earnings release and conference call on February

Transcript of Everything Apple Said About Its Record-Breaking Fourth Quarter Earnings Results

Apple today reported revenue of $52.6 billion and net quarterly profit of $10.7 billion, or $2.07 per diluted share, in the fourth quarter of its 2017 fiscal year. Apple's CEO Tim Cook and CFO Luca Maestri discussed the results on a conference call today. MacRumors has prepared a complete transcript of the call ahead. Tim Cook Good afternoon and thanks to everyone for joining us. As we close the books on a very successful fiscal 2017, I have to say I couldn't be more excited about Apple's future. This was our biggest year ever in most parts of the world, with all-time record revenue in the United States, Western Europe, Japan, Korea, the Middle East, Africa, Central and Eastern Europe, and Asia. We had a particularly strong finish this year, generating our highest September quarter revenue ever, as year-over-year growth accelerated for the fourth consecutive

Apple's Mac Sales Up 25% Year-Over-Year in Q4 2017

Apple today announced financial results for the fourth fiscal quarter (third calendar quarter) of 2017, unveiling impressive Mac sales. Apple sold 5.39 million Macs during the quarter, up from 4.89 million in the year-ago quarter, marking an 10 percent increase in shipments. Mac revenue came in at $7.17 billion, up from $5.74 billion in the year-ago quarter, marking 25 percent growth. Overall revenue is likely up thanks to an increased price tag for the MacBook Pro, which saw prices raised in 2016 with the debut of Touch Bar models. Apple this summer refreshed much of its Mac lineup, introducing new MacBook, MacBook Pro, and iMac models with Kaby Lake processors. At the end of this year, Apple plans to introduce the iMac Pro for its professional user base, and there are future plans to unveil a modular high-end Mac Pro, both of which should further boost Mac sales in the years to

Apple Reports 4Q 2017 Results: $10.7B Profit on $52.6B Revenue, 46.7M iPhones

Apple today announced financial results for the third calendar quarter and fourth fiscal quarter of 2017. For the quarter, Apple posted revenue of $52.6 billion and net quarterly profit of $10.7 billion, or $2.07 per diluted share, compared to revenue of $46.9 billion and net quarterly profit of $9 billion, or $1.67 per diluted share, in the year-ago quarter. The revenue and earnings per share numbers were company records for the fourth fiscal quarter, although the total profit fell short of the 2015 figure. Gross margin for the quarter was 37.9 percent, compared to 38 percent in the year-ago quarter, with international sales accounting for 62 percent of revenue. Apple also declared an upcoming dividend payment of $0.63 per share, payable November 16 to shareholders of record as of November 13. For the quarter, Apple sold 46.7 million iPhones, up from 45.5 million in the year-ago quarter. iPad sales were up to 10.3 million from 9.3 million in the fourth quarter of 2016, and Mac sales rose to 5.4 million from 4.9 million. For the full fiscal year, Apple generated $229.2 billion in sales with $48.4 billion in net income, up from $215.6 billion in sales and $45.7 billion in net income for fiscal 2016.“We’re happy to report a very strong finish to a great fiscal 2017, with record fourth quarter revenue, year-over-year growth for all our product categories, and our best quarter ever for Services,” said Tim Cook, Apple’s CEO. “With fantastic new products including iPhone 8 and iPhone 8 Plus, Apple Watch Series 3, and Apple TV 4K joining our product

Apple Expected to Report Strong Summer Revenue of $50B+ as Focus Shifts to iPhone X Launch Quarter

Apple is set to report its earnings results for the fourth quarter of its 2017 fiscal year at 1:30 p.m. Pacific Time today. The fiscal quarter reflects Apple's sales between July 2 and September 30 of 2017. Apple provided the following guidance for its fourth quarter back on August 1: • revenue between $49 billion and $52 billion • gross margin between 37.5 and 38 percent • operating expenses between $6.7 billion and $6.8 billion • other income/expense of $500 million • tax rate of 25.5 percentApple's guidance suggests the company will report at least its second best fourth quarter earnings results in its history. Wall Street analysts forecast that Apple will report $50.7 billion revenue and earnings per share of $1.87, according to 29 estimates averaged by Thomson Reuters. A quarter-by-quarter look at Apple's revenue since the 2009 fiscal year:Fourth Quarter Revenue • 2013: $37.5B • 2014: $42.1B • 2015: $51.5B • 2016: $46.9B • 2017: $49B+ MacRumors.com compiled fourth quarter estimates from several financial institutions and analysts tracking Apple and the company's stock. The figures are listed below, ranked from highest to lowest in quarterly revenue. Apple's fourth quarter earnings results will provide the first official indication of how well the iPhone 8 and iPhone 8 are selling. The devices became available to pre-order on September 15, just over two weeks before the quarter ended, and launched in stores one week later on September 22. Multiple reports have suggested that demand for the iPhone 8 and iPhone 8 Plus has been tepid, but

Apple to Announce Q4 2017 Earnings on November 2

Apple today updated its investor relations page to announce that the company will share its earnings for the fourth fiscal quarter (third calendar quarter) of 2017 on Thursday, November 2. The earnings release will provide a look at iPhone 8 and iPhone 8 Plus sales during their first week of availability. Apple has not provided launch weekend sales for the new devices, so this will be the first look at how well the updated devices sold compared to the iPhone 7 and iPhone 7 Plus last year. Apple's guidance for the fourth quarter of fiscal 2017 includes expected revenue of $49 to $52 billion and gross margin between 37.5 and 38 percent. In 4Q 2016, Apple posted revenue of $46.9 billion and gross margin of 38 percent. The quarterly earnings statement will be released at 1:30 PM Pacific/4:30 PM Eastern, with a conference call to discuss the report taking place at 2:00 PM Pacific/5:00 PM Eastern. MacRumors will provide coverage of both the earnings release and conference call on November