Tim Cook has a lot to be happy about. Photo: Apple
Apple closed its earnings call this afternoon after announcing an unprecedented 74.5 million iPhone sales to go along with $74.6 billion in revenue and $18 billion in profits. It broke the record for the most money made by a corporation in history.
While breaking down the Q1 2015 numbers, Tim Cook and CFO Luca Maestri also gave us some juicy details about what’s in store for 2015 by hinting at new products in the pipeline, as well as subtly dropping the Apple Watch’s release date.
We’ve combed through the numbers and the conference call and found seven huge new revelations every Apple fan needs to know:
Apple’s earnings from last quarter will be historic. Photo: Jim Merithew/Cult of Mac
Tim Cook and CFO Luca Maestri are getting ready to announce Apple’s biggest earnings ever to investors this afternoon, and we’ll be on hand to liveblog all the action.
The results are expected to be historic, thanks to unprecedented demand for the iPhone 6 and 6 Plus in not only the US, but also China. Wall Street expects Apple to blow past its projected revenue of $63.5 billion to $66.5 billion and hit somewhere closer to an all-time high of $68 billion.
Analysts expect iPhone 6 sales to have topped more than 66 million, but Apple expert Ben Bajarin is predicting any number lower than 70 million would be a result of supply chain limitations, not demand. Mac sales are also expected to be strong, while the iPad remains the only wild card.
The call begins at 2 p.m. Pacific, but the liveblog action starts now. Keep this tab open and come back throughout the day for coverage of Apple’s biggest quarter ever.
Will.i.am cheesin’ with Apple retail chief Angela Ahrendts at the Apple Watch unveiling. Photo: Leander Kahney/ Cult of Mac
Angela Ahrendts was arguably Apple’s biggest hire of 2014, and according to the company’s latest SEC filing, luring the Burberry CEO over to Apple wasn’t cheap.
In 2014, Apple’s new SVP of retail and online stores was the highest paid executive at Apple. It’s the first time in Apple history that the highest paid person at the company is a woman, and Apple gave her a transition package that made even Tim Cook’s salary look like pittance pay.
Ahrendts made her move from Burberry to Apple in May of 2014. By the end of the year Apple paid her over $64 million more than CEO Tim Cook. In fact, Cook wasn’t even in the top 4 highest paid employees at Apple last year. Eddie Cue took home the second biggest salary with $24,445,739, while Jeff Williams (aka Tim Cook’s Tim Cook) took home $24,403,235.
Check out the full breakdown of executive compensation below:
Apple has agreed to accept the Chinese government’s demands to run network safety evaluations on all Apple products before they can be imported into the country.
Tim Cook met with the country’s Internet and Information office last December to discuss Apple’s plans in China, and has since consented to the government’s demands that they be allowed screen products for the fabled NSA backdoor. According to a spokesperson who was also present at the meeting, Cook has assured Chinese officials that Apple will fully cooperate with the governments wishes to have products inspected for security concerns.
Tim Cook has ramped up Apple’s lobbying efforts. Photo: Apple
Steve Jobs shunned trips to Washington, D.C., during his tenure as Apple CEO, but Tim Cook has been a frequent visitor to Capitol Hill to personally amp up Apple’s lobbying efforts, which have more than doubled since 2009.
A new report from OpenSecrets today revealed that Apple lobbied the White House, Congress and 13 departments and agencies including the Food and Drug Administration and the Federal Trade Commission in 2014. In 2009, Apple lobbied only Congress and six agencies and only spent $1.5 million compared to the nearly $3 million it spent from January to October 2014.
Apple pays homage to one of history’s greatest civil rights activists. Photo: Apple
Today is Martin Luther King Jr. Day, and to mark the occasion Apple has changed the image on its homepage to one commemorating the beloved civil rights activist and pastor.
The black-and-white image is accompanied by a line reading, “Today we reflect on the life and vision of Dr. Martin Luther King Jr. and the work that continues in service of the broader concerns of humanity.”
Apple has been feeling the #jesuischarlie solidarity lately. After publicly supporting the movement protesting the terrorist attacks on the Charlie Hebdo offices last week, Apple has approved a Je Suis Charlie app for sale on the App Store, just anhour after the developers emailed CEO Tim Cook.
The recent publishing of a patent for an iOS stylus — an accessory Jobs was vocal about opposing — got us thinking about other aspects of Apple, circa 2015, that likely would have rubbed the company’s late CEO the wrong way.
AAPL shares have been tanking the last few weeks after reaching a record high in 2014, but Apple is looking to stop the bleeding later this month by announcing what’s expected to be another record breaking earnings report for Q1 2015 on January 27th.