apple-store-china

Apple announced its financial results for its fiscal third quarter of 2015 this afternoon, and the numbers are solid. The company sold 47.5 million iPhones and earned $49.6 billion in revenue, breaking June quarter records and beating Wall Street expectations.

We just finished up the conference call, where Tim Cook and other executives discussed Apple’s performance over the three-month period, and offered up some insights into its future. And as usual, we’ve rounded up the 15 most interesting points from the call below.

  • Apple now has $202.8 billion in cash, 89% of the total is offshore
  • On iPhone: “Experienced highest switcher rate from Android that we’ve ever measured.”
  • iPhone has highest customer satisfaction rate of any smartphone brand by a wide margin
  • Among iPhone owners planning to purchase a new phone, 86% plan to purchase a new iPhone
  • 97% customer satisfaction rate on iPad Air 2,  iPad accounts for 76% of the $200+ tablet market
  • On Apple Watch: 97% customer satisfaction rate, 94% of owners wear and use it every day
  • “Services” category earned $5 billion in revenue, setting a new all-time record
  • App Store produced best quarter ever with revenue growing 24%
  • There are now more than 8500 third party Apple Pay/Siri apps
  • On Apple Music: “Millions and millions” of customers are already experiencing the new service
  • “Millions” are tuning into Beats 1
  • 15,000 artists have signed up for Connect
  • 700 universities and colleges are soon going to be adapting Apple Pay
  • Apple now has 456 retail stores, 190 outside the US
  • Apple plans to have 40 stores open in Greater China by middle of next year

Despite the solid quarter, shares of APPL dipped 7% in after-hours trading due to a small miss on iPhone sales and weaker-than-expected forecast for Q4. The dubiousness shouldn’t last long, however, as Apple is expected to introduce a wave of new products in the fall.

If you want to listen to today’s earnings call, a replay will be available for a limited time.