APPLE MUSIC KEY TO COMPANY'S Q4
Apple’s fiscal 2016 fourth quarter closed with a strong September, but the period’s revenue dipped $4.6b to $46.9b. Its Services business revenue rose 24% from 2015 to $6.3b with App Store revenue—driven by Apple Music—up 22%.
“We’re thrilled with the customer response to iPhone 7, iPhone 7 Plus and Apple Watch Series 2, as well as the incredible momentum of our Services business, where revenue grew 24 percent to set another all-time record,” said Tim Cook, Apple’s CEO.
Luca Maestri, Apple’s CFO, had a positive spin on the quarter. “We are pleased to have generated $16.1b in operating cash flow, a new record for the September quarter. We also returned $9.3b to investors through dividends and share repurchases during the quarter and have now completed over $186b of our capital return program.”
For the fiscal 2017 first quarter, which runs 9/25 through Christmas, Apple predicts revenue between $76b and $78b; gross margin around 38%; and operating expenses of around $7b.
THE MUSIC OF CLIVE COMES ALIVE AT CARNEGIE HALL
That's what friends are for. (5/1a)
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THE NEW UMG
Gosh, we hope there are more press releases.
TIKTOK BANNED!
Unless the Senate manages to make this whole thing go away, that is.
THE NEW HUGE COUNTRY ACT
No, not that one.
TRUMP'S CAMPAIGN PLAYLIST
Now 100% unlicensed!
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JAMES KING: THE HITS INTERVIEW (PART ONE)
