7 takeaways from Apple’s surprisingly good Q3 earnings

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Apple's IPO was one of the most anticipated of its day.
Apple made $7.8 billion in profit last quarter.
Photo: Jim Merithew/Cult of Mac

Apple shocked investors with better than expected earnings for Q3 2016 today, despite some ominous signs that some analysts claimed signaled we’ve reached peak Tim Cook.

Thanks to the booming App Store business and other Services, Apple raked in an impressive $42.2 billion in revenue, which Tim Cook says, “was way better than we expected from so many different points of view.”

Here are the most important takeaways from today’s earnings call:

What to expect from Apple’s Q3 2016 earnings

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Tim Cook
Have iPhone sales finally bottomed out?
Photo: Jim Merithew/Cult of Mac

Apple is set to reveal its quarterly earnings this afternoon for the third fiscal quarter of 2016 and if the analysts are right, it could be even worse than Apple’s last disastrous quarter.

Investors were advised by Apple during the last earnings call that revenue will likely be down from what it was in the same quarter last year. Apple is hoping it can get a boost from the iPhone SE and the App Store to stay within expectations, however troubles in China and low iPhone demand could hurt the company more than expected.

Here’s what to watch for when Tim Cook and Luca Maestri talk to investors later this afternoon:

Apple Stores will now pay you to sign up for Apple Pay

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Apple_Store_Union_Square_exterior_side
Now is a good time to sign up for Apple Pay.
Photo: Leander Kahney/Cult of Mac

The next time you make a purchase at your local Apple Store, expect to be asked if you want to buy your items with Apple Pay.

Apple is launching a new promotion for its contactless payment system this week that will emphasize paying with your iPhone or Apple Watch rather than busting out a credit card. And those that haven’t signed up for Apple Pay yet will get some free money.

Apple Music finally gets audio fingerprints from iTunes Match

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Get your Beats 1 on anytime with on-demand style shows.
This fix might stop Apple Music from garbling your library.
Photo: Ste Smith/Cult of Mac

Apple Music’s matching software has a terrible history of replacing artists’ live songs with a studio version, but that will finally be a thing of the past, thanks the addition of audio fingerprints from iTunes Match.

A quiet rollout of the iTunes Match audio fingerprint to all Apple Music subscriber is currently underway, fixing the less accurate metadata version of iTunes Match that was currently used on Apple Music.