Developers have now earned over $70 billion from the App Store since it opened its doors in 2008. Apple says downloads have grown over 70 percent in the last year alone, thanks in part to “breakout hits” like Pokémon GO and Super Mario Run.
Tim Cook and Apple CFO Luca Maestri will run through all the numbers with investors today at 2 p.m. Pacific. As usual, Cult of Mac will be liveblogging the action with all the analysis and snark we can muster.
Apple’s second quarterly earnings report of 2017 will likely reveal the company now has over a quarter of a trillion dollars of cash stashed in the bank.
The iPhone-maker has so much cash its reserves exceed the foreign-currency reserves of the U.K. and Canada combined. During the last quarter of 2017, Apple’s money-making machine was earning $3.6 million per hour.
Apple has confirmed that it will reveal its Q2 2017 earnings during a conference call on May 2.
The company’s results for the second fiscal quarter of this year will reveal the state of demand for iPhone 7 almost eight months into its cycle, and whether there is still plenty of excitement for the new MacBook Pro.
Aided by a increased confidence rating from Goldman Sachs, Apple shares hit an all-time high today, with the price jumping to $133.76 per share before closing just above the company’s previous record of $132.54, set on May 17, 2015.
There was good news all around as iPhone sales, services and even the Mac all performed better than predicted. During today’s earnings call, Tim Cook and Apple CFO Luca Maestri revealed some of the secret sauce that made Apple’s earnings one for the history books.
Apple sold more iPhone units than ever before last quarter, a spasm of sales that finally returned the company to growth, as revealed today in Cupertino’s first earnings report of 2017.
With total revenues of $78.4 billion bringing in a profit of $17.9 billion, Apple CEO Tim Cook said he is “thrilled” with the results. Wall Street is happy, too: AAPL shares are trading up significantly in after-hours trading.