AAPL Company April 26

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Alongside its announcement of Apple’s quarterly earnings, its first revenue decline since 2003, Apple has also announced latest numbers for Apple Music, its $9.99 per month streaming music service. The company says it now has 13 million paying subscribers, up from 11 million in February.

This compares to about 30 million subscribers to leading competitor Spotify, although the service obviously had a multi-year headstart over Apple’s streaming service, which launched last June.

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Apple just posted its official Q2 2016 earnings report and we’ve broken down how that compares to previous quarters. Next up on the schedule is Apple’s quarterly conference call with analysts where CEO Tim Cook and CFO Luca Maestri typically recap the numbers and field questions about Apple’s financial situation.

To recap the big numbers from today’s report, Apple counted $50.6b in revenue, $10.5b in profit, 51.1m iPhones sold, 10.2m iPads sold, and 4m Macs sold during the final three months of last year. Apple Watch numbers aren’t broken out at this point and instead included in the Other category with iPods, Apple TVs, and other accessories.

We’ll be tuned in to the call as it plays out, and update this post with up-to-the-minute details while highlighting major updates. The call is scheduled to kick off at 2 pm PT/5 pm ET so stick around.

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Apple has officially posted its Q2 2016 earnings results with $50.6 billion in revenue and $10.5 billion in profit from the January to March quarter. Apple’s guidance last quarter first pointed to a year-over-year decline in iPhone sales for the quarter following the holiday season citing global economic issues and inflated iPhone 6 demand due to supply constraints the year earlier. Apple’s updated 4-inch iPhone SE and 9.7-inch iPad Pro launched at the end of March.

Apple® today announced financial results for its fiscal 2016 second quarter ended March 26, 2016. The Company posted quarterly revenue of $50.6 billion and quarterly net income of $10.5 billion, or $1.90 per diluted share. These results compare to revenue of $58 billion and net income of $13.6 billion, or $2.33 per diluted share, in the year-ago quarter. Gross margin was 39.4 percent compared to 40.8 percent in the year-ago quarter. International sales accounted for 67 percent of the quarter’s revenue.

Here’s Apple’s breakdown of iPhone, iPad, and Mac sales from the quarter:

  • iPhone: 51.1 million units
  • iPad: 10.2 million units
  • Mac: 4 million units

For iPhone sales, that’s an 18% year-over-year drop and a 19% drop for iPads.

Apple CEO Tim Cook had this to say:

“Our team executed extremely well in the face of strong macroeconomic headwinds,” said Tim Cook, Apple’s CEO. “We are very happy with the continued strong growth in revenue from Services, thanks to the incredible strength of the Apple ecosystem and our growing base of over one billion active devices.”

And Luca Maestri, chief financial officer, said this:

“We generated strong operating cash flow of $11.6 billion and returned $10 billion to shareholders through our capital return program during the March quarter,” said Luca Maestri, Apple’s CFO. “Thanks to the strength of our business results, we are happy to be announcing today a further increase of the program to $250 billion.”

Apple’s Q2 results compare to the prior quarter’s $75.9 billion in revenue, 74.8 million iPhone sales, 16.1 million iPad sales, and 5.3 million Mac sales. In the same quarter a year ago, Apple reported $58 billion in revenue, 61.1 million iPhones sold, 12.6 million iPads sold, and 4.5 million Macs sold. Apple reported $18.4 billion in profit in the prior quarter and $13.6 billion in profit in the year ago quarter.

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9to5toys 

Dropbox is today announcing a new upcoming feature of its platform, codenamed Project Infinite. When Infinite rolls out, you’ll be able to see all your files and folders stored on Dropbox in the Finder, but they won’t take up any space until they are needed. The company is currently targeting the feature at business users.

This means your Dropbox storage can be far larger in total size than your local disk (as is common with modern setups of 1 TB Dropbox tiers and small SSDs) with on-demand instantaneous access to any file at any time over the Internet …

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Later today, at about 4.30 PM ET, Apple will announce its financial earnings results for fiscal Q2, including the latest three-month sales numbers for iPhone, iPad and Mac.

Although Apple is still going to post profits in the billions, still one of the most successful companies the world by all metrics, investor expectations are low as the company guidance indicates it will report its first decline in year-over-year quarterly revenue since 2003. The primary cause? Falling iPhone sales …

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A new motion signed into law in India will require all phones, including iPhones, to feature a ‘panic button’ to call emergency services and GPS for location pings from January 1st, 2017. The provisions are being brought in to aid the ‘security of women’, via the Indian Express.

Obviously, GPS has existed in iPhones since the iPhone 3G but it seems that Apple will have to make some software modifications to iOS to comply with the panic button request.

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