AAPL ▪ July 22
One of the most remarkable numbers revealed yesterday by Apple was that revenue in Greater China – the term used to describe mainland China plus Hong Kong, Macau and Taiwan – more than doubled in the past year. Year-on-year revenue in the region more than doubled, compared to Apple’s already impressive worldwide growth of 33% … expand full story
AAPL ▪ July 21
Right on schedule, Apple has shared its Q3 2015 earnings results reporting revenue of $49 billion and $10.7 billion in profit during the April to June period. Notably, the company’s Q3 period is the first that includes initial Apple Watch sales as the device first launched on April 24th.
Apple® today announced financial results for its fiscal 2015 third quarter ended June 27, 2015. The Company posted quarterly revenue of $49.6 billion and quarterly net profit of $10.7 billion, or $1.85 per diluted share. These results compare to revenue of $37.4 billion and net profit of $7.7 billion, or $1.28 per diluted share, in the year-ago quarter. Gross margin was 39.7 percent compared to 39.4 percent in the year-ago quarter. International sales accounted for 64 percent of the quarter’s revenue.
While Apple isn’t specifically breaking out Apple Watch sales (or iPod sales for that matter), the company does disclose iPhone, iPad, and Mac sales by unit:
- iPhone: 47 million units
- iPad: 10.9 million units
- Mac: 4.7 million units
While Apple isn’t breaking out Apple Watch or Beats numbers, the ‘other services’ which includes those categories as well as iPods and Apple TV reports $2.6 billion in revenue.
Apple CEO Tim Cook said this about the company’s Q3 results:
“We had an amazing quarter, with iPhone revenue up 59 percent over last year, strong sales of Mac, all-time record revenue from services, driven by the App Store, and a great start for Apple Watch,” said Tim Cook, Apple’s CEO. “The excitement for Apple Music has been incredible, and we’re looking forward to releasing iOS 9, OS X El Capitan and watchOS 2 to customers in the fall.”
Luca Maestri, Apple’s chief financial officer, added this:
“In the third quarter our year-over-year growth rate accelerated from the first half of fiscal 2015, with revenue up 33 percent and earnings per share up 45 percent,” said Luca Maestri, Apple’s CFO. “We generated very strong operating cash flow of $15 billion, and we returned over $13 billion to shareholders through our capital return program.”
Today’s Q3 results follow last quarter’s $58 billion in revenue and 61.1 million iPhones sold, 12.6 million iPads sold, and 4.5 million Macs sold globally. During the same quarter a year ago with the iPhone 5s at the top of the lineup, Apple reported $37.4 billion in revenue and 35.2 million iPhones sold, 13.2 million iPads sold, and 4.4 million Mac sales. Apple reported $13.6 billion in profit last quarter and $7.7 billion during the same quarter a year ago.
The company’s quarterly conference call is scheduled for 2 PM Pacific/5 PM Eastern to discuss today’s results. Stay tuned for our live coverage of the call. Both Cook and Maestri usually review the quarterly results before fielding questions from analysts. With the first Apple Watch sales included in today’s report, the new device is sure to be a major topic of the call.
Apple’s complete Q3 earnings report is below: expand full story
With Apple due to report its fiscal Q3 (calendar Q2) earnings later today, Fortune notes that the company has beaten Wall Street expectations for eight straight quarters – and strong iPhone sales mean that today’s earnings report is likely to make it nine.
iPhone sales typically drop in June as consumers hear more rumors about the next model and many decide to wait. But with Q3 sales estimated at close to 50M phones, representing a massive 40% year-on-year increase, that would put Apple’s revenue well in excess of the company’s own guidance of $47B and above the Wall Street consensus estimate of $49.5B … expand full story
In the latest news in the patent case that feels like it will never end, a number of tech giants have taken Samsung’s side in its appeal against the damages it was ordered to pay for infringing Apple’s patents.
It’s almost three years since Apple was awarded $1B in damages after a jury found that Samsung infringed five of its patents. $450M of that award was later vacated and a retrial ordered to determine a revised sum, with Apple awarded a lower sum of $290M – for a revised total of $930M. The US appeals court later ruled that while Samsung did indeed copy iOS features, it should not have been penalised for copying the general look of the iPhone. The court now needs to once again revise the amount awarded.
The amount awarded in part reflected the profits Samsung was deemed to have made by infringing the patents, and it is this aspect that Google, Facebook, Dell, HP, eBay and other tech companies say is unreasonable … expand full story
AAPL ▪ June 22
I first speculated that Apple might one day become a bank almost a year before the launch of Apple Pay. What triggered that thought was the use of Touch ID for iTunes purchases and the depth of security involved in the secure enclave used by Apple’s fingerprint system. It was clear even then that Apple had big ambitions in the mobile payment field.
Now that Apple Pay has launched, and already proven a big success, I think the argument for Apple to make the move are even stronger. So here are seven reasons I think Apple may become a bank within the next five years … expand full story