7 biggest revelations from Apple’s historic earnings call

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Tim Cook has a lot to be happy about. Photo: Apple
Tim Cook has a lot to be happy about. Photo: Apple

Apple closed its earnings call this afternoon after announcing an unprecedented 74.5 million iPhone sales to go along with $74.6 billion in revenue and $18 billion in profits. It broke the record for the most money made by a corporation in history.

While breaking down the Q1 2015 numbers, Tim Cook and CFO Luca Maestri also gave us some juicy details about what’s in store for 2015 by hinting at new products in the pipeline, as well as subtly dropping the Apple Watch’s release date.

We’ve combed through the numbers and the conference call and found seven huge new revelations every Apple fan needs to know:

Liveblog: Will Apple’s earnings call blow Wall Street’s mind?

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Apple earnings call. Photo: Jim Merithew/Cult of Mac
Apple's earnings from last quarter will be historic. Photo: Jim Merithew/Cult of Mac
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Tim Cook and CFO Luca Maestri are getting ready to announce Apple’s biggest earnings ever to investors this afternoon, and we’ll be on hand to liveblog all the action.

The results are expected to be historic, thanks to unprecedented demand for the iPhone 6 and 6 Plus in not only the US, but also China. Wall Street expects Apple to blow past its projected revenue of $63.5 billion to $66.5 billion and hit somewhere closer to an all-time high of $68 billion.

Analysts expect iPhone 6 sales to have topped more than 66 million, but Apple expert Ben Bajarin is predicting any number lower than 70 million would be a result of supply chain limitations, not demand. Mac sales are also expected to be strong, while the iPad remains the only wild card.

The call begins at 2 p.m. Pacific, but the liveblog action starts now. Keep this tab open and come back throughout the day for coverage of Apple’s biggest quarter ever.

Breaking down Apple’s 2014 earnings report

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There's money in them Cupertino hills. Photo: Kevin Spencer/Flickr CC
There's money in them Cupertino hills. Photo: Kevin Spencer/Flickr CC

Following on from last week’s expectations-defying earnings call, Apple has filed its annual 10-K report with the U.S. Securities and Exchange Commission, indicating just how rosy things are looking in Cupertino.

Net iPhone sales up up by 12%, with global earnings of $102 billion in 2014 versus $91 billion last year. iMac sales are up by the same 12%, too, with 24 million units sold this year compared to 21.5 million in 2013.

The iTunes Store is doing its bit as well, with a total of $10.2 billion in net sales, up from $9.3 billion in 2013. Apple says that app sales are up, but also acknowledges that this increase is partially offset by a decline in digital music sales.