Ahhh, the joy of earnings calls. They provide a lot of information, and are usually as dry as Death Valley National Park. Today's Apple Q4 2016 Earnings Call was no exception, so today we're taking that one-hour phone call and condensing it down to a bit over 7 minutes. Highlights? Read the rest of this post and listen to the podcast.
Apple "kinda" beat the street estimates, slightly over for earnings per share and iPhone units sold, but was just a hair under estimates for revenues at "only" $46.9 billion.
One of the key points is that supply is constrained on the iPhone 7 Plus and iPhone 7. Apple is expecting the iPhone 7 to "catch up" during the quarter, but it sounds like supplies of the iPhone 7 Plus could be low until early in 2017.
Services now account for a huge percentage of Apple's revenues, and Apple CFO Luca Maestri noted that Apple Pay transactions were up over 500% since 2015. The company did more transactions in September of 2016 than in all of 2015.
The iOS App Store also contributed to that services revenue jump, creating 100% more revenue than the competing Google Pay app store.
There's more, so be sure to click the play button and listen to that podcast!