Apple today revealed its results for the third fiscal quarter of 2016, and they make for surprisingly pleasant reading for investors. The company reported revenue of $42.2 billion and quarterly net income of $7.8 billion after App Store sales hit an all-time record.
Apple has scheduled its next earnings call for Tuesday, July 26, at 2 p.m. Pacific. The call, which will be broadcast live, will cover the company’s third fiscal quarter results following the first-ever decline in iPhone sales last quarter.
Apple’s executive team is optimistic about the company’s future, despite a bleak earnings call. And why wouldn’t they be? Apple’s slump brought in more money than most other tech companies out there.
Read all about the positive spin in this week’s Cult of Mac Magazine, along with a trick to making your iOS folders look round with no jailbreak required, a frank appraisal of the Apple Watch one year in, 8 killer Instagram tips, the world’s biggest Apple Museum and much, much more.
Apple’s Q2 2016 earnings have been disasterous for the company’s share price, as AAPL stock suffered its worst week in three years.
Wall Street has suddenly soured on Apple, including Carl Icahn, who revealed earlier this week that he dumped all of his shares. With investors offloading shares, the company watched its market capitalization shrink by $65 billion in a mere three days, which is about the equivalent of Cambondia’s net wealth.
Right now, that’s just a small blemish on an otherwise darn near perfect record. But the concern is that it could signal the start of a much greater decline, ushering in an era in which Cupertino is no longer the overwhelmingly dominant force in all things shiny and aluminum.
Should Tim Cook and Co. really be worried about declining demand, and should fans be worried about Apple’s future? Or will our favorite gadget maker be back with a bang?
Join us in this week’s Friday Night Fight between Cult of Android and Cult of Mac as we throw hands (not literally) over these topics and more!
Apple earnings calls are usually a time for celebration and gloating, but for the first time in over a decade the company is poised to post declining profits.
Tim Cook warned Wall Street that this would likely happen due to declining iPhone sales. Have we really reached “peak iPhone”?
Analysts and reporters will be grilling Cook and Apple CFO Luca Maestri during today’s Q2 2016 earnings call. Investors will be looking for signs that Apple still has room to grow. And Cult of Mac will be right here, liveblogging the entire Apple earnings call — and translating the financial gibberish — when the big event starts at 2 p.m. Pacific.
Apple’s phenomenal run of growing profits has come to an end. For the first time in 13 years, Apple announced that its profits declined year-over-year during the last fiscal quarter.
The company just posted its earnings report for Q2 2016 and, as predicted, iPhone sales took a serious hit. Apple only shipped 51.6 million devices last quarter, resulting in $50.6 billion in total revenue and a quarterly net income of $10.5 billion.
Apple CEO Tim Cook admitted the company had a challenging quarter but is still incredibly optimistic, despite what many analysts are calling “peak iPhone.”
Apple’s 13 years of astonishing growth is likely to come to a close today, with the company predicted to report its first quarterly revenue decline since 2003 — well before the iPhone, iPad and Apple Watch were even faint glimmers in Apple execs’ eyes.
The company is expected to reveal that March quarter sales fell 10 percent year-over-year to around $52 billion. Apple first warned that sales would fall in its forecast back in January, although today we’ll find out the extent of that slide.
Apple soothsayers have been predicting doom and gloom for the iPhone-maker ever since Tim Cook dropped the company’s Q1 2016 earnings. iPhone sales are projected to decline. The iPad is still struggling. And even the Mac is taking a drop.
This is the end for Apple according to some Wall Street crazies, but they’re missing a key metric in Apple’s earnings report that shows the company still has a lot of growing to do thanks to it’s huge install base.