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 push to become a great company for large companies as well as consumers is getting a big boost this week with the hiring of former Box employee Karen Appleton who has joined the company in an enterprise-focused role.
Appleton revealed last week that she was leaving Box after working with the company since 2007 as employee number 8, but she hasn’t said what exactly she will be doing for Apple.
Well, you can add one more to the list — as police in Bangkok recently captured a violent armed gang responsible for a string of vicious robberies in the country’s northern region — all thanks to their ill-advised decision to steal an iPad mini with the feature enabled.