Apple on Tuesday posted its [fiscal] fourth quarter earnings for 2016, offering a look at its performance over the past 3 months. The Cupertino company came close to most of Wall Street's expectations, selling 45.5 million iPhones, 9.3 million iPads and earning $46.9 billion in revenue. The numbers are still down year-over-year, however, as the struggle to find new growth continues.
Spotify is out of contract with all three major music companies, and according to Music Business Worldwide, the renegotiations aren't going well. Citing sources familiar with the talks, the outlet says the sticking point is revenue share.
With Spotify preparing for an IPO, the labels see this as a great opportunity to get the streaming company to raise its revenue split from around 55% to 58%, which is what Apple Music pays. Spotify, however, wants to lower the amount.
Apple on Wednesday announced that its ConnectED efforts now reach over 32,000 students. In a note on its website, the company said that as of the start of the 2016 school year, there are 32,145 students at underserved public schools in the US that are learning on iPad through the program.
According to Apple CEO Tim Cook himself, the App Store has set a new record in July with highest-ever monthly billings and money paid to developers. Developers have now earned over $50 billion from sales of their apps since the App Store's debut in the summer of 2008—and that's after the company's standard thirty percent cut on all App Store proceeds.
The CEO took to Twitter to congratulate developers on their “success and such inspired creativity”.
In February 2016, a federal jury ordered that Apple pay $625 million to VirnetX Holding Corp after being found guilty of willfully infringing on technologies found in VirnetX's patents related to virtual private networking protocols. Friday, the judge voided that ruling after determining that the case should be revisited, CNBC reports. VirnetX alleges that its patented technology is used in FaceTime and iMessage on the iPhone, iPad and Mac.
Samsung this morning announced results for the second calendar quarter ended June 30, and the numbers are encouraging despite global smartphone sales cooling down. The South Korean conglomerate's mobile division reported “substantial earnings improvement” buoyed by strong sales of its flagship Galaxy S7 and Galaxy S7 edge flagship smartphones.
The data is newsworthy given strong competition Samsung has been facing on the low-end from Chinese rivals like Xiaomi and Huawei and on the high-end from Apple's iPhone. This is the best earning result Samsung has posted in two years, by the way.
Apple announced the financial results for its fiscal third quarter of 2016 this afternoon, and although they beat Wall Street estimates, the numbers are pretty rough. iPhone sales are down 7 million units, and revenue is down $7 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 Apple’s performance over the last few months, and offer up some insights into its future. Here are your 15 most interesting points from that call.
Apple on Tuesday released its earnings report for the third [fiscal] quarter of 2016. The Cupertino company exceeded expectations, selling 40.4 million iPhones, 10 million iPads and earning $42.4 billion in revenue. The numbers are still down year-over-year, however, with 47.5 million iPhones and nearly $50 billion in revenue in Q3 2015.
Shares of Apple have passed the psychological important barrier of a hundred bucks per share ahead of the company's ahead June quarter earnings report, which is scheduled to take place next Tuesday, July 26. This marks the first time Apple’s stock price broke the $100 mark in six weeks after the stock plunged below $90 following weaker-than-expected iPhone sales, CNBC tweeted this morning.
Citing market forecasts quoted by the Commercial Times newspaper, Taiwanese trade publication DigiTimes reported Monday that shares of Taiwan Semiconductor Manufacturing Company Limited (TSMC) could hit record levels thanks to orders for the Apple-designed 'A10' system-on-a-chip, the engine that will drive the next iPhone and iPad. TSMC just posted strong numbers for the second financial quarter.
Verizon on Wednesday announced a new wireless plan platform and several new features for its customers. The new plan is more expensive, but it includes at least 30% more data than the previous offering, as well as new stuff like Carryover Data and Safety Mode.
It looks like they're calling it simply the new Verizon Plan, and it comes in 5 flavors: Small, Medium, Large, X-Large and XX-Large. The Small option costs $35 per month for 2GB (previously $30/month for 1GB), and the XXL gives you 24GB for $110 per month.
Apple on Friday announced that its Apps for Earth campaign has generated more than $8 million in total proceeds. For 10 days in April, the iPhone maker worked with 24 developers to publish interactive and educational content to the App Store, with the proceeds going exclusively to the World Wildlife Fund.