Apple earlier today announced the financial results for its fiscal second quarter of 2018, and the numbers for the 3-month period are outstanding. The company beat Wall Street expectations across the board, and grew in almost every category year-over-year.
Following the release of its earnings report, CEO Tim Cook and CFO Luca Maestri hopped on a conference call to talk about Apple’s performance. And as usual, we’ve put together a roundup of some of the more interesting points and highlights from the call.
- Apple announced new $100 billion stock buyback program, increase dividend by 16%
- March quarter record for both revenue and earnings
- All-time record revenue from the services division
- Over 270 million iTunes users
- Apple Pay rolling out to Norway, Poland, and Ukraine in next several months
- Apple’s wearables division up 50%, including AirPods, Beats and Apple Watch
- 99% customer satisfaction among iPhone 8, 8 Plus and X users
- App Store set all-time revenue record in March quarter
- iPad grew both in units and revenue for fourth consecutive quarter
- There are now 502 Apple Stores across the world
- iPhone X was most popular smartphone in all of China last quarter
- Cook on iPhone X: “I think it’s one of those things like a team wins the Super Bowl, maybe you want them to win by a few more points, but it’s a Super Bowl winner. That’s how we feel about it. I could not be prouder of the product.”
- Cook on Apple healthcare interest: “I don’t want to give too much away, but it’s an area of great interest that we feel can make a big difference in. It’s a major strategical area of ours.”
If you want to listen to today’s earnings call, a replay will be available here for a limited time.