Trouble in China, iPhone slump and other Apple earnings surprises

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How will investors respond to Apple's relatively flat earnings?
How will investors respond to Apple's relatively flat earnings?
Photo: Ste Smith

Apple’s Q2 earnings report for 2017 just barely beat Wall Street’s expectations when the numbers were revealed this afternoon, but there are plenty of reasons to still be optimistic about AAPL.

During the company’s call with investors today, Apple CEO Tim Cook and CFO Luca Maestri discussed some of the struggles the company experienced last quarter, from slumping iPhone sales to economic headwinds in China.

Here are the biggest takeaways:

Liveblog: Just how good (or bad) was Apple’s Q2?

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apple earnings
Apple's money-making machine is on a new level.
Photo: Steve Smith

Tim Cook: Pro users remain incredibly important to Apple

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There's reportedly been a death at Apple HQ.
This is the last shareholders meeting at Apple's old campus.
Photo: Ryan B/Flickr

Apple hosted its annual shareholders meeting today at the company’s headquarters in Cupertino where a number of new proposals were presented by investors before Tim Cook took questions from the audience.

During his Q&A session, Tim Cook discussed how Apple plans to fight for net neutrality. He also assured shareholders that Apple plans to come out with new products that appeal to professionals and creatives, but insisted that the Mac and iPad aren’t destined for a merger.

10 key takeaways from Apple’s historic earnings call

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moneyapple
Apple made a ton of money. What more do you need to know?
Photo: Ste Smith/Cult of Mac

Apple sees growth in China even if bottom line shows otherwise

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China seems to love Apple, but growing the brand there hasn't been easy.
China seems to love Apple, but growing the brand there hasn't been easy.
Illustration: Cult of Mac

Apple is encouraged with its growth in China even if it registered a double-digit decline in revenue there.

Apple CEO Tim Cook and CFO Luca Maestri used other numbers to paint a rosy picture of the complicated China market when they met with investors during a first quarter earnings conference call Tuesday.

iPhone 7 snaps Apple’s losing streak

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iPhone 7 vs iPhone 7 Plus cameras
The iPhone 7 and 7 Plus helped Apple reverse a three-quarter sales decline.
Photo: Apple

The number 7 was lucky for Apple, as worldwide sales of the iPhone 7 and 7 Plus hit a quarterly record and put the breaks on a three-quarter revenue skid, the company said in today’s first quarter earnings report.

Apple saw a 5 percent revenue increase ($54.3 million) with more than 78 million iPhones sold. It was the first full quarter of the iPhone 7, delivered during a time of year that typically generates the best sales figures for Apple because of the holiday shopping season.

Liveblog: Apple hits new highs with doubleplusgood Q1 2017 earnings call

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Get ready for Apple's most exciting earnings call of 2017.
Get ready for Apple's most exciting earnings call of 2017.
Photo: Ste Smith/Cult of Mac

Apple is set to reveal its first quarterly earnings report of 2017 and, if Wall Street’s estimates are any indicator, it could be Apple’s biggest quarter ever.

After multiple quarters of declining revenues, today’s call could see the company return to growth, lifted by strong iPhone sales over the holidays and a burgeoning services business that has quickly become Apple’s second-biggest moneymaker.

Tim Cook and Luca Maestri are scheduled to hold an open call with investors today at 2 p.m. Pacific. As usual, Cult of Mac will be here liveblogging and analyzing all the action. Get prepped for the call with our guide on what to expect, and join the fun in the liveblog below.

Apple stock surges on record-breaking Q1 2017 earnings

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AAPL stock chart
Apple's stock surged in after-hours trading after the company announced record-breaking Q1 2017 results.
Photo: Google Finance

Apple’s stock saw a big surge after the company announced record-breaking earnings for Q1 2017.

AAPL was up almost 3 percent in after-hours trading to $124.50. Apple stock has been climbing recently but was depressed in anticipation of today’s results.