Apple announced the financial results for its fiscal fourth quarter of 2016 this afternoon, and although they met Wall Street estimates, the numbers are still pretty rough. iPhone sales are down 3 million units, and revenue is down $4.5 billion from the year-ago quarter.
Following the release of its earnings, CEO Tim Cook and CFO Luca Maestri hopped on a conference call to talk about their company’s performance over the last 3 months, and offer up some insights into its future. Here are some of the most interesting points from the call.
- Apple now holds $237.6 billion in cash and marketable securities.
- Apple returned over $9 billion to investors during the September quarter.
- Apple made four acquisitions during fiscal Q4 2016.
- 2016 was biggest year ever for Android-to-iPhone switchers.
- Research: among consumers planning to purchase a smartphone within next 90 days, 60% plan to purchase iPhone.
- iPhone sales up in India 50% year-over-year in 2016.
- Over 100 HomeKit-compatible products expected to be available by end of 2016.
- iPad has 94% satisfaction rate with corporate buyers.
- App Store revenue has increased for five consecutive quarters.
- Tim Cook: a lot of technologies that will become available will be able to revolutionize the car space.
- Tim Cook: original content a great opportunity for us. It’s definitely an area we’re focused on.
- Apple expects revenue of $76-$78 billion in holiday quarter, up from $75.9 billion last year.
If you want to listen to today’s earnings call, a replay will be available here for a limited time.