Apple announced the financial results for its fiscal first quarter of 2017 this afternoon, and the numbers for the holiday period are pretty good. The company beat Wall Street estimates by putting up a record 78.3 million iPhone sales and more than $78 billion in revenue.
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 has $246.1 billion in cash and marketable securities
- Tim Cook: repatriation of $231B overseas cash would be good for Apple and country
- Apple still acquires between 15-20 companies per year
- Apple has paid developers over $60 billion from App Store sales
- Apple’s Services revenue up 18% year over year, to $7.2 billion
- Services on the verge of becoming a Fortune 100 business
- Cook: Apple has its “toes in the water” in creating original video content
- Apple Pay transactions up 500% year over year
- Over 1 million people using CarPlay
- Apple saw double digit iPhone growth in US, Canada, Western Europe, Australia and Japan in Q1
- iPhone 7 Plus the most popular ‘Plus’ iPhone model ever
- Highest ever quarterly revenue for Mac
- iPad has 85% share of U.S. tablet market above $200
- iPad sales down 19%, but Cook still very bullish on tablet market
- Apple Watch set all time revenue record in Q1
If you want to listen to today’s earnings call, a replay will be available here for a limited time.