Apple’s CFO says the company should pay ‘zero’ extra tax in Europe

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There's still a lot of money left in iOS devices.
Apple's Chief Financial Officer thinks Apple doesn't owe the E.U. one extra cent.
Photo: Ste Smith

Despite the noise being made about big multinationals using loopholes to avoid paying tax, Apple’s Chief Financial Officer Luca Maestri has made it clear how much he thinks Apple owes as part of the European Union’s ongoing investigation.

“My estimate is zero,” he told the Financial Times. “I mean, if there is a fair outcome of the investigation, it should be zero.”

Don’t spend it all at once, E.U.!

The 5 biggest takeaways from Apple’s biggest quarter ever

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It's a veritable tornado of cash!
It's a veritable tornado of cash!
Photo: PublicDomainPictures/Pixabay

Apple reported record revenue during its earnings call Tuesday, but Tim Cook almost sounded like he was channeling Game of Thrones characters. He didn’t actually say “winter is coming,” but he might as well have.

Revenue is high for now, but iPhone sales are slowing down, the iPad continues to underperform and — most troublesome of all — the global economy will continue to play havoc with Apple’s bottom line.

Still, Cook and Co. remain optimistic about Apple’s ability to continue its world-beating performance. Here are five of the biggest takeaways we got from Apple’s Q1 2016 earnings call today with Cook and Apple CFO Luca Maestri.

Liveblog: Apple’s make-or-break earnings call

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Life at Apple is great for Tim Cook.
Life at Apple is great for Tim Cook.
Photo: Jim Merithew/Cult of Mac

The stakes couldn’t be higher today for Apple’s first earnings report of 2016.

Depending on how well Apple’s holiday season went, the company could set new records for the most profits in a quarter by any company ever as well as total number of iPhones sold in any quarter.

Apple racks up largest quarterly profit in history

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Apple's back on top again.
Apple's back on top again.
Photo: Apple

Apple’s earnings for Q1 2016 have broken the world record for the most profit made by a company in one quarter.

With total revenue hitting $75.9 billion, Apple managed to rake in a record $18.48 billion in profit. The company managed to increase iPhone sales to 74.8 million despite predictions from Wall Street that the company would see decline. However, Apple did warn investors in its guidance that next quarter may be the the first time growth drops.

Despite missing on some numbers, Tim Cook praise Apple’s team calling Q1 2016 “Apple’s biggest quarter ever.”

The 7 biggest takeaways from Apple’s Q4 earnings call

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The iPhone 6s is selling like hotcakes.
The iPhone 6s is selling like hotcakes.
Photo: Jim Merithew/Cult of Mac

The iPhone 6s is a huge hit, China is still doing great, and Android users absolutely love switching to iPhone.

Those are just some of the details Tim Cook and Apple CFO Luca Maestri revealed during this afternoon’s earnings call with investors that revealed Apple managed to top Wall Street’s expectations thanks to the iPhone 6s.

Here are the top takeaways from Apple’s latest record-setting quarter: