Apple third-quarter earnings call live blog

Join CNET for live coverage of Apple's third fiscal quarter conference call.

  • Josh Lowensohn 7/24/2012 8:54:31 PM
  • Josh Lowensohn 7/24/2012 8:55:13 PM
    Hey everyone. The call should start in about 5 minutes. It's me and my colleague Roger Cheng.
  • Roger Cheng 7/24/2012 8:55:42 PM
    Howdy all. I hope you're all excited for some Apple financial tidbits.
  • Orlando_Ross 7/24/2012 8:58:00 PM
    that's what I am doing Josh, the lady says 5 more minutes!
  • Josh Lowensohn 7/24/2012 8:58:06 PM
    @Orlando_Ross Listen to the lady!
  • Roger Cheng 7/24/2012 8:58:28 PM
    Apple also sold 26 million iPhones in the period...good numbers considering the U.S. carriers AT&T and Verizon Wireless both reported weaker iPhone sales.
  • Josh Lowensohn 7/24/2012 8:59:40 PM
    @Roger Cheng Not to mention, that whole iPhone 5 thing...
  • Danny Fernandez 7/24/2012 8:59:42 PM
    Roger or guys think analysts will ask about iPhone5?
  • Josh Lowensohn 7/24/2012 8:59:49 PM
    @Danny Fernandez Totally. Happens every time.
  • Josh Lowensohn 7/24/2012 9:00:03 PM
    In fact, it's kind of fun to watch them squirm out of answering it.
  • Roger Cheng 7/24/2012 9:00:22 PM
    @Danny Fernandez Absolutely. The better question is how long they wait before pulling the iPhone 5 question out.
  • Josh Lowensohn 7/24/2012 9:01:10 PM
    And it's game time.
  • Josh Lowensohn 7/24/2012 9:01:52 PM
    Opening remarks from Nancy Paxton saying that Apple CEO Tim Cook is on the call, along with CFO Peter Oppenheimer.
  • Josh Lowensohn 7/24/2012 9:02:23 PM
    And Apple treasurer Gary Wipfler.
  • Josh Lowensohn 7/24/2012 9:02:46 PM
    Oppenheimer giving a rundown of the news. Records for iPad, along with iPhone for the quarter.
  • Josh Lowensohn 7/24/2012 9:03:08 PM
    23% growth in revenue for the quarter, with 11% margin.
  • Josh Lowensohn 7/24/2012 9:03:24 PM
    $9.32 per share earnings, but you already knew that.
  • Danny Fernandez 7/24/2012 9:03:32 PM
    I think Apple will stick with their "launching or releasing in the Fall" generic answer but won't give an exact month or date
  • Josh Lowensohn 7/24/2012 9:03:32 PM
    4M Macs, which is the most for any June quarter, Oppenheimer says.
  • Josh Lowensohn 7/24/2012 9:03:49 PM
    That's also a growth compared to IDC's record of PC market share.
  • Roger Cheng 7/24/2012 9:04:16 PM
    Customer response from Macbook Retina has been "excellent," says CFO
  • Josh Lowensohn 7/24/2012 9:04:25 PM
    Oppenheimer going over new Macs introduced during the quarter. Says that the response has been impressive. Oppenheimer adds that it was the best quarter ever for education sales of Macs.
  • Josh Lowensohn 7/24/2012 9:04:56 PM
    Tomorrow: Mountain Lion comes out.
  • Josh Lowensohn 7/24/2012 9:05:17 PM
    Has more than 200 features, Oppenheimer says. That includes iMessages and iCloud integration.
  • Roger Cheng 7/24/2012 9:05:19 PM
    Oppenheimer says Apple built iCloud into foundation of Mountain Lion.
  • Josh Lowensohn 7/24/2012 9:05:31 PM
    Now onto music: 6.8M iPods, which Oppenheimer says were ahead of expectations.
  • Roger Cheng 7/24/2012 9:05:45 PM
    iPod Touch continues to account for more than half of all iPods sold, Oppenheimer says.
  • Josh Lowensohn 7/24/2012 9:06:11 PM
    $1.8B in revenue for Apple's music business.
  • Roger Cheng 7/24/2012 9:06:15 PM
    iTunes generates revenue of $1.8B thanks to demand for music and apps, Oppenheimer says.
  • Josh Lowensohn 7/24/2012 9:06:38 PM
    Oppenheimer says that 14M people have downloaded Apple's iTunes U app, which was revamped earlier this year.
  • Josh Lowensohn 7/24/2012 9:07:03 PM
    iPhone: 26M units sold, 28% YoY growth, and ahead of the number the company factored into its guidance.
  • Roger Cheng 7/24/2012 9:07:19 PM
    Apple has iPhone distribution in 250 carriers around the world, Oppenheimer says.
  • Josh Lowensohn 7/24/2012 9:07:35 PM
    The company has 8.5M iPhones in channel inventory, which is about 4-6 weeks worth Oppenheimer says.
  • Roger Cheng 7/24/2012 9:07:53 PM
    The number of iPhones in the Fortune 500 have more than doubled in the past year.
  • Josh Lowensohn 7/24/2012 9:07:59 PM
    iPhone in the enterprise: More than doubled in the Fortune 500 in the past year, Oppenheimer says.
  • Roger Cheng 7/24/2012 9:08:07 PM
    Oppenheimer and Apple really starting to push the Apple products in enterprise story.
  • Josh Lowensohn 7/24/2012 9:09:15 PM
    17M iPads sold, compared to 9.2M in the same quarter last year. 84% growth there.

    Now selling in 97 countries. Revenue for this was $9.2B compared to $6.0B the same quarter. Now 3.2M iPads in channel inventory, which is within 4-6 week range of channel inventory, Oppenheimer says.
  • Josh Lowensohn 7/24/2012 9:09:50 PM
    Oppenheimer says that interest in $399 iPad 2 have been strong in K-12 market. More than 2x as many iPads sold as Macs in education market.
  • Josh Lowensohn 7/24/2012 9:10:23 PM
    That includes Mansfield School District, which bought 11K iPads. Everyone gets one, Oppenheimer says.
  • Roger Cheng 7/24/2012 9:10:29 PM
    iPads in schools: Getting kids hooked on Apple products when they're young.
  • Josh Lowensohn 7/24/2012 9:10:44 PM
    Oppenheimer says the number of ipads in the fortune 500 has more than tripled this year.
  • Josh Lowensohn 7/24/2012 9:11:15 PM
    Now name dropping British Airways using iPads, as well as its use in real estatate.
  • Roger Cheng 7/24/2012 9:11:33 PM
    410M cumulative iOS device sales in the quarter, Oppenheimer says.
  • Josh Lowensohn 7/24/2012 9:11:39 PM
    410M iOS device sales cumulative, Oppenheimer says. And App Stores in 155 countries. 650,000 Apps, including 225K just for the iPad.
  • Josh Lowensohn 7/24/2012 9:11:54 PM
    Now at $5.5B doled out to developers through the App Store.
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