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Earnings call
Get ready for another record breaking quarter.
Photo: Jim Merithew/Cult of Mac

Apple chipmaker rakes in record third quarter revenue

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Apple chipmaker racing ahead with its next next-gen nanometer process
TSMC is the company behind Apple's A13 chip.
Photo: Apple

Apple chipmaker Taiwan Semiconductor Manufacturing Company (TSMC) has hit a new record for the third calendar quarter of the year. TSMC’s revenue beat previous guidance it gave in July.

The world’s largest contract chipmaker reported consolidated revenues of $3.3 billion for the month of September 2019. That’s down slightly from its record high in August. But it’s up 21.6% on quarter and 12.6% from one year earlier.

Apple’s working on something BIG… this week on The CultCast

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Apple's recent earnings report was full of delicious surprises.
Photo: Apple

This week on The CultCast: Apple’s working on something BIG, and their massive increase in R&D spending proves it. Plus: we discuss all the surprises Apple unveiled in their recent earnings report, and it was another record breaker. And if you think your conversations with Siri are private, think again! Apple’s been caught reviewing your most personal sound bytes. And a new Moviepass competitor has emerged with a very interesting offer, but is it worth the price? All that and more!

Our thanks to Squarespace for supporting this episode. Easily create a beautiful website all by yourself, at Squarespace.com/cultcast. Use offer code CultCast at checkout to get 10% off your first purchase of a website or domain..

8 key details from Apple’s upbeat earnings report

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Big pile of cash underneath an Apple logo.
Apple's giant pile of cash continues to grow.
Image: Ste Smith/Cult of Mac

Apple unleashed its best-ever Q3 earnings report today, and traders subsequently sent the company’s stock soaring in after-hours trading.

Thanks to record-breaking revenue from its services business and strong growth from wearables, Apple is heading into its most important period of the year ready to cash in. Investors had plenty of questions for CEO Tim Cook and CFO Luca Maestri during today’s call. And the duo revealed some key tidbits we actually weren’t expecting.

Apple’s quarterly report will continue ‘flattening out’ of earnings

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Big pile of cash underneath an Apple logo.
Earnings are likely to remain flat.
Photo illustration: Ste Smith/Cult of Mac

My colleague Buster Hein described tomorrow’s Apple earnings call as the company’s “most boring” earnings report of the year. And it seems like analysts aren’t rushing to disagree with him.

Looking at analyst expectations for Tuesday shows that, overall, people have pretty low expectations. And that’s all part of a “flattening out” of Apple earnings.

iPad sales were the hero of Apple’s latest earnings report

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iPad Air 10.5
The new iPad Pro is officially a hit!
Photo: Apple

Apple surprised Wall Street with a better-than-expected Q2 earnings report this afternoon and one of the biggest factors was the iPad.

With revenues topping $58 billion Q2 (down 5% YoY), Apple is trying to become less reliant on its iPhone business. Services are expected to pick up most of the slack, but this last quarter Apple got some unexpected help from its iPad business that is experiencing a resurgence just at the right time thanks to the new iPad Pro.

Apple breezes past Wall Street forecasts with $58 billion in revenue

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quotes on Apple
It's "Get a bag Tuesday" and Tim Cook is cashing in.
Photo: Cult of Mac

Apple revealed its Q2 2019 earnings report and despite some pessimism from analysts, the company managed to beat Wall Street’s expectations.

Revenue for the quarter came in at $58 billion, slightly above Apple’s own guidance to investors. Most of Wall Street analysts were predicting the company would only bring in between $54 billion to $57 billion for the quarter. Better yet, the company’s guidance for next quarter is stronger than expected, signifying that the doom-and-gloom may have been severely overstated.

Brace yourself for Apple’s next ugly earnings call

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Apple earnings
Apple's Q2 earnings are expected to be a bit of a downer.
Photo: Ste Smith/Cult of Mac

Wall Street is anxiously awaiting Apple’s earnings report for the second quarter of 2019 that will be delivered on Tuesday, April 30. Apple’s stock value has risen about 30% this year even though iPhone sales are slowing.

Most analysts predict that nearly all of Apple’s numbers will be down compared to the same quarter last year, but there are few bright spots that could cause the company’s stock price to surge. After looking at the analysts’ numbers, we’ve found a couple of key areas to watch for.

iPhone sales slump, but Apple’s in it ‘for the long term’

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quotes on Apple
Measure the money, not number of units sold.
Illustration: Cult of Mac

Apple unveiled its earnings for Q1 2019 this afternoon and as expected, total revenue came in a lot lower than Apple originally predicted at the end of last year, with iPhone sales dropping 15%.

Thanks mostly to slumping sales in Greater China, Apple posted $84.3 billion in revenue, marking a drop from the $88.3 billion the company pulled in during the same quarter a year ago. Even though iPhone sales are struggling, Apple’s services are bringing in more money than expected, giving investors some good news.

Tim Cook got a big pay rise last year

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Tim Cook took home a tidy paycheck in 2018.
Illustration: Ste Smith/Cult of Mac

Tim Cook took home $15.7 million in compensation for his role as Apple CEO in fiscal 2018, a 22 percent raise on his earnings the previous year.

The figure is approximately 283x the median Apple employee’s pay, which stood at $55,426. That average is more than Amazon’s $30,000 median, but significantly lower than Facebook’s $240,430 and Alphabet’s $197,000.