Record iPhone sales keep Apple’s money machine humming. Photo: Apple
Apple surpassed analysts’ expectations with $42.1 billion in revenue in the back-to-school season, buoyed by unprecedented iPhone sales and surprisingly strong demand for Macs.
While breaking down the Q4 2014 numbers during today’s earnings call, Apple CEO Tim Cook and CFO Luca Maestri offered insights into the company’s Q4 performance in China, the struggling iPad and hints of new product categories coming down the pipeline.
Tim Cook, Phil Schiller and others sold Apple stock at a time when it was hitting record highs.
Five top Apple execs — including Tim Cook and Phil Schiller — unloaded $143 million AAPL shares as part of a 10b5-1 planned sale, according to a new report from Barron’s.
Cook sold 348,425 Apple shares for $35,250,297, while Schiller dropped 348,846 shares for $35,256,000.
Other Apple higher-ups who did the same include CFO Luca Maestri, who sold his entire direct holdings for $1,631,286; Jeffrey E. Williams, senior vice president of operations, who raked in $35,233,446; and Bruce D. Sewell, general counsel and senior vice president of legal and government affairs, who made $35,393,915 on the deal.
Last quarter was bright but the future’s even brighter, according to Apple.
Even Apple execs sounded pleasantly surprised as they revealed last quarter’s mostly higher-than-expected numbers Tuesday. But in what’s become something of a refrain in Cupertino, they couldn’t stop themselves from vague and knowing references to the incredible products waiting in the magical Apple pipeline.
Trust us, they seemed to say: Last quarter’s net profit of $7.7 billion — fueled by robust sales of iPhones, MacBooks and a surprisingly strong showing in the iTunes Software and Services category — was totally great, but wait till you see what we’ve got up our sleeves.
“We’re expecting a very busy fall,” said Luca Maestri, Apple’s chief financial officer. “We’re very excited about what’s in the pipeline.”
What else did Apple executives have to say during Tuesday’s Q3 earnings call? Here’s our take on everything you need to know from the latest numbers talk.
CEO Tim Cook will tell investors why Apple is still numero uno in today’s Q3 earnings call. Photo: Roberto Baldwin/The Next Web
Tim Cook and newly-apointed CFO Luca Maestri are getting ready for Apple’s Q3 2014 earnings call with investors. The call will reveal just how much cash the company raked in over the past three months and what they should expect later this year. We’ll be right here, liveblogging the whole thing.
Apple hasn’t released a new product this quarter, but investors on Wall Street are still bullish about the future of AAPL, sending the company’s stock price surging 26% since its last earnings report.
Whether Apple was able to beat expectations of $38.4 billion in revenue without an explosion of new sales will finally be known today at 2 p.m. Pacific, and we’ll be ready to dish out all the news and juicy tidbits Tim and the team tell investors.
So keep this page open for the full scoop on how ridiculously profitable Apple was last quarter, as well as what’s to come its “most exciting product pipeline in 25 years.”
Apple has today announced that Peter Oppenheimer, its senior vice president and chief financial officer, will retire at the end of September after 18 years with the Cupertino company. Oppenheimer will transition the role of CFO to Luca Maestri, Apple’s current vice president of finance and corporate controller.
Xerox has today announced that Luca Maestri, executive vice president and chief financial officer, is leaving the company on February 28 to become the new corporate controller at Apple. Xerox has credited Maestri for his contributions, which have strengthened the “financial foundation” of the company, it said in a press release today.