Tim Cook says Apple is ‘bullish about future tablet market’, now at 13M iPads into education worldwide

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During Apple’s earnings call today for its fiscal Q3, the company shared an update on iPad sales into the education market noting that it’s now up to 13 million iPads sold worldwide. That’s up from the 8 million units worldwide it reported in February of last year meaning the company sold 5 million iPads into education in just over a year. Apple last year noted that it also sold 4.5M iPads into the U.S. education market. This year, the company said it currently has 85% share of the US education tablet market. Read more

Live blog: Apple’s Q3 2014 earnings call

Apple Q3 Live blog earnings call

As we mentioned last month, Apple will today host its quarterly conference call to discuss its earnings report from the third quarter of its fiscal year: this includes 35.2 million iPhones, 13.2 million iPads, 2.9 million iPods, and 4.4 million Macs. Apple reported today that it earned $37.4 billion in revenue during its Q3 period.

This will be the first quarterly conference call with analysts and investors since Apple announced its plans to acquire Beats Electronics and Beats Music in a $3 billion deal that it expects to clear regulatory approval by the end of the current quarter in September. Today’s call also will be the first since Apple’s developer conference in June as well as Apple’s announced partnership with IBM to bolster the iPhone and iPad effort in the enterprise. It also marks Luca Maestri’s first call as CFO since Peter Oppenheimer’s retirement, although Maestri has been present on past calls.

Investors and analysts will surely focus on Apple’s new product plans for the remainder of this year, though, and we’ll be listening to bring you coverage starting at 5pm EST/ 2pm PST. Read more

Apple announces Q3 2014 revenue of $37.4b: 35.2m iPhones, 13.2m iPads, 4.4m Macs

Apple Q3 Live blog earnings call

Apple today announced its Q3 2014 earnings results, revealing that the company pulled in $37.4 billion in revenue and $7.7 billion in profit during the quarter.

Apple® today announced financial results for its fiscal 2014 third quarter ended June 28, 2014. The Company posted quarterly revenue of $37.4 billion and quarterly net profit of $7.7 billion, or $1.28 per diluted share. These results compare to revenue of $35.3 billion and net profit of $6.9 billion, or $1.07 per diluted share, in the year-ago quarter. Gross margin was 39.4 percent compared to 36.9 percent in the year-ago quarter. International sales accounted for 59 percent of the quarter’s revenue.

Apple, as always, has also disclosed sales numbers for its main revenue generators. The company sold:

  • 35.2 million iPhones
  • 13.2 million iPads
  • 4.4 million Macs
  • 2.9 million iPods

Apple’s guidance for the quarter indicated revenue results between $36 and $38 billion, which Apple met.

Here’s Apple CEO Tim Cook on the results:

“Our record June quarter revenue was fueled by strong sales of iPhone and Mac and the continued growth of revenue from the Apple ecosystem, driving our highest EPS growth rate in seven quarters,” said Tim Cook, Apple’s CEO. “We are incredibly excited about the upcoming releases of iOS 8 and OS X Yosemite, as well as other new products and services that we can’t wait to introduce.”

Here’s newly instated CFO Luca Maestri with his thoughts:

“We generated $10.3 billion in cash flow from operations and returned over $8 billion in cash to shareholders through dividends and share repurchases during the June quarter,” said Luca Maestri, Apple’s CFO. “We have now taken action on over $74 billion of our $130 billion capital return program with six quarters remaining to its completion.”

Apple’s Q3 has been relatively quiet in terms of new product announcements, but the Cupertino-company did announce major moves such as the impending acquisition of Beats Electronics and Beats Music along with an expansive future partnership with IBM for enterprise-related initiatives.

These numbers compare to last quarter’s results of $45.6 billion in revenue and sales of 43.7 million iPhones, 16.3 million iPads, and 4.1 million Macs. You can also compare today’s numbers to analyst expectations from before the announcement. Apple is also holding a conference call today at 2 PM Pacific/5 PM Eastern time, which we will be covering live. Cook and Maestri will likely share prepared remarks and then take a series of questions at the end from financial analysts.

For Q4 2014, Apple is providing guidance between $37 billion and $40 billion. The full Q3 earnings results release is below:

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Video: Kobe Bryant talks meeting with Apple’s Ive, compares product design to basketball

In May, we broke the news that Los Angeles Lakers superstar Kobe Bryant spent the day in Cupertino, California with Apple Senior Vice President of Design Jony Ive. Today, in an interview with Bloomberg’s Jon Erlichman, Bryant confirmed the meeting with Ive and shared some details behind the discussions. Kobe said that he has been calling up leaders across industries to learn more about their processes. He says he asked Ive what goes into the product creation process as Bryant moves to develop his own products as his basketball career winds down.

Bryant says that Ive also asked him how he prepares for basketball games, and Bryant compares his own work to the process of developing gadgets. Just like Ive has an end goal for a product and works to piece all the components together to reach that goal, Bryant says he has a goal for each basketball game that he takes many steps to work toward. We previously reported that Apple is partnering with Bryant and other athletes to test the company’s upcoming fitness and health wearable, but Bryant did not address those reports in this interview.

You can watch the interview with Bryant regarding Apple below:

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Apple patent granted today shows dockable ‘iTime’ watch concept as well as conventional smartwatch

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A patent application filed by Apple three years ago and approved today illustrates a new twist on the iWatch concept: a sensor-packed strap acting as a dock which allows a range of interchangeable modules to be snapped into place.

9to5-image 2014-07-22 at 10.49.53 AMIt’s not anything we’re likely to see make it into production: the docking concept dates back to 2011, and was probably intended by Apple to house an iPod Nano, converting it into a smartwatch in a more sophisticated version of the watch-straps sold in Apple Stores since way back in 2010. But the patent does tell us two things …  Read more

Here’s what analysts expect Apple to announce today: revenue up 8.5 percent, earnings up 18 percent

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With Fortune having now filled in the blanks in its analyst roundup, above are the final numbers Wall Street expects Apple to announce at around 1.30pm PT/4.30pm ET this afternoon.

With all 34 analysts having revealed their predictions, the consensus view is for year-on-year revenue to have grown by 8.5 percent, with earnings up 18.1 percent …  Read more