Apple returned to growth and exceeded Wall Street expectations on Tuesday, when it reported record revenue, profits and iPhone sales for the first quarter of fiscal 2017. Following the news, the company held a conference call with media and analysts, and notes of interest follow.
Apple closed the book on its fiscal 2016 with a quarterly earnings conference call, marking the end of the first year where iPhone sales declined. However, Apple is bullish on its outlook, particularly with the newly released iPhone 7 series and a growing services business.
Apple on Tuesday revealed the results of its fourth quarter of fiscal 2016, in which the company sold 45.5 million iPhones on its way to $9 billion in net income, coming in just slightly ahead of expectations on Wall Street.
Apple's sales continue to decline across its three major platforms — iPhone, iPad and Mac — but the year-over-year losses weren't quite as bad as the market had expected. After reporting the results of its June quarter, Apple executives gave commentary and fielded questions, and notes of interest from the conversation follow.
Though Apple's sales continue to decline year over year, the company's June quarter came in ahead of Wall Street expectations, with the company posting $42.4 billion in revenue and quarterly net income of $7.8 billion.
Services revenue was perhaps one of the few comforts for Apple in its second-quarter financial results shared on Tuesday, growing 20 percent year-over-year to $5.99 billion, setting an all-time record for the company.
Calling it a "busy and challenging quarter," Apple Chief Executive Tim Cook gave commentary and fielded questions on his company's fiscal 2016 second quarter. Notes of interest from the call with investors and the media follow.
In announcing its first quarterly revenue decline in 13 years, Apple on Tuesday said it will infuse another $50 billion into an ongoing capital return program, a move that comes with a $35 billion boost to the company's share repurchase initiative.
Apple's second fiscal quarter of 2016 officially marks the first time ever that iPhone sales saw a year-over-year decline, as the company shipped 51.2 million handsets on its way to $50.6 billion in total sales.
Apple's biggest quarter ever was something of a mixed bag for the company — it sold more iPhones than ever, but the company also expects revenues to fall next quarter. Following the announcement of its first quarter of fiscal 2016 results, executives from the company participated in a conference call with analysts and the media, and notes of interest follow.
Apple will reveal its quarterly financial results for the first fiscal quarter of 2016 on Jan. 26, the company said on Monday, an important three-month period that accounts for new iPhone performance and holiday sales.
Apple grew its revenue another 22 percent year over year in its September 2015 quarter, a result set by record iPhone and Mac sales. Following the announcement, executives from the company participated in a conference call with analysts and the media, and notes of inventory follow.
Record setting sales of the iPhone pushed Apple to its best June quarter ever, with profit of $10.7 billion. Following the announcement, executives from the company participated in a conference call with analysts and the media, and notes of inventory follow.
It was yet another record breaking quarter for Apple in March, driven by growth of both the iPhone and Mac. Following the announcement executives from the company participated in a conference call with analysts and the media, and notes of interest follow.