Samsung reports record earnings — and Apple’s a big reason why

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Samsung
Quick, send Tim Cook a thank you note!
Photo: Jim Merithew/Cult of Mac

Samsung is expecting to rake in record operating profits for the three months ending in September — and it owes Apple a debt of gratitude for helping.

The South Korean tech giant said on Friday that it’s expecting to pull in $15.6 billion in operating profits for the most recent quarter. This would be a jump of more than 20 percent compared to the same quarter in 2017, and Samsung’s highest ever quarterly earnings. They should send Tim Cook a bottle of champagne to thank him!

iPhone manufacturer struggles despite record revenues

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Foxconn
Foxconn just announced its lowest net profits in five years.
Photo: CBSRe

With Apple recently hitting a $1 trillion valuation, you’d think it would be a great time to be an Apple supplier. According to new quarterly earnings released by Apple’s long-time manufacturer Foxconn, however, that’s not entirely true.

As revealed in Foxconn’s latest financials, consolidated revenues rose 17 percent year-on-year to reach a new historical high of $34.43 billion for Q2 2018. Unfortunately, net profits for the quarter fell 2.18 percent on-year to their lowest level in five years.

Snapchat blames big redesign for decline in active users

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Snapchat
Snapchat has reported its latest quarterly earnings.
Photo: Jim Merithew/Cult of Mac

Snapchat has blamed the lingering effects of its disastrous redesign for a decline in its number of daily active users.

The messaging company reported its Q2 earnings yesterday. One of the key takeaways was that the number of people using Snapchat daily shrank from 191 million last quarter to 188 million this quarter. CEO Evan Spiegel blamed the 1.5 percent decrease on, “disruption caused by our redesign.”

Is iPhone X really a flop? We’ll know for sure tomorrow

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Apple earnings
Investors are hoping for good news from Tim Cook.
Photo: Ste Smith/Cult of Mac

The second Apple earnings report of 2018 is set to come out on May 1 and Wall Street’s top analysts are worried that disappointing news is on the horizon.

Rumors have been circulating for months that iPhone X sales have been far weaker than Apple expected. The company’s stock price has been slipping in the last two weeks leading up to the Q2 2018 earnings report. Everyone’s waiting to see if Apple can pull out another surprise, but the signs don’t look too promising.

Per usual, Cult of Mac will be here to live blog all the action as it transpires on Tuesday, May 1, at 2 p.m. Pacific. Here’s what to watch for on the call:

Is iPhone X really too expensive? We’ll find out May 1.

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Apple earnings
Mark your calendars for Apple's next earnings call.
Photo: Ste Smith/Cult of Mac

The date for Apple’s second financial earnings call of 2018 was revealed on its investors’ website today, setting Tuesday, May 1, as the big date.

Apple has reportedly been facing slumping iPhone sales amid waning demand for the iPhone X. Investors will find out just how bad (or good) the sales figures are when Tim Cook and CFO Luca Maestri go over all the numbers at 2 p.m. Pacific. Per usual, Cult of Mac will be here live-blogging the whole thing.

The biggest takeaways from Apple’s record-breaking Q1 earnings

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Big pile of cash underneath an Apple logo.
Apple is bringing its massive pile of cash back to the U.S.A.
Image: Ste Smith/Cult of Mac

Apple made more money last quarter than it ever has in the company’s history, but despite bringing home $88.3 billion in revenue, not all investors were impressed.

Wall Street walked away from Apple’s Q1 2018 earnings with mixed reviews. Money and cash is at an all-time high, yet there are some worrying signs that iPhone sales are about to hit another slump and new products like HomePod aren’t doing much to excite the market.

Here are the five biggest takeaways from today’s call:

Apple earnings live blog: iPhone X sales revealed at last

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Apple earnings
Apple's Q1 earnings are going to be huge!
Photo: Ste Smith/Cult of Mac

The first Apple earnings report of 2018 is already here. Based on analysts’ expectations, it will probably be Apple’s biggest earnings ever.

Thanks to the high price of the iPhone X and the holiday shopping season, Apple is set to rake in record-setting profits this quarter. Wall Street is eager to know what Apple plans to do with all its cash, especially now that it is bringing more than $200 billion back home from overseas.

Tim Cook and Apple CFO Luca Maestri are set to get on the phone with investors at 2 p.m. Pacific to talk about all the numbers. Per usual, we’ll be right here live-blogging all the action with up-to-the-minute analysis on all of the juicy new nuggets.

Come join us:

Today in Apple history: iPod drives profits to new heights

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iPod
The iPod was kind of a big deal in 2005.
Photo: Jim Merithew/Cult of Mac

Jan12January 12, 2005: Apple reports record earnings for the preceding three months — with holiday sales of the iPod and demand for the latest iBook giving Apple a four-fold increase in profits.

Apple brags that it has sold a total of 10 million iPods, and that the massive popularity of its portable music player has driven Apple to the highest earnings in its history.

iPhone X launch sales will be revealed in Apple’s Q1 earnings call

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money
Apple's next earnings call will tell us a whole lot about the way 2018 will play out.
Photo: Ste Smith/Cult of Mac

Apple’s first quarterly earnings call of 2018 will take place on Thursday, February 1, the company has revealed.

Apple will host a conference call to discuss its first fiscal quarter results for the year. This will happen at 2:00 p.m. PT or 5:00 p.m. ET, and is available to listen to online.

iPhone 8 sales mystery ends Nov. 2

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iPhone
This will be the first earnings report with iPhone 8 sales figures.
Photo: Ste Smith/Cult of Mac

Apple shareholders waiting to find out what iPhone 8 sales will mean for the company’s bottom line will have to wait one more month before getting the news.

On its investor portal this afternoon, Apple revealed that its Q4 2017 earnings report will come out November 2.