O'Grady's PowerPage » Finance

Apple releases Q2 2016 numbers, reports $10.5 billion profit, but first decline in revenue in over a decade

Posted by:
Date: Tuesday, April 26th, 2016, 14:33
Category: Finance, iPad, iPhone, News

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The good news is that Apple made billions and billions of dollars in profits last quarter.

The bad news is that this represents a lower profit than Q2 of 2015.

For the first time ever, iPhone sales fell for the quarter. While this doesn’t include iPhone SE sales, Apple reported its first quarterly revenue decline in 13 years on Tuesday, which came as no surprise to the company and the investors and analysts who closely follow its finances.

After more than a decade of amazing revenue and profit leaps, Apple reported $10.5 billion in profits on $50.6 billion in sales. iPhone sales were down, the company selling only 51.2 million units in Q2, this number falling short of the 61.2 million iPhone units sold in Q2 of 2015.

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Apple adds more than 50 new banks and credit unions within the United States

Posted by:
Date: Wednesday, April 20th, 2016, 08:49
Category: Apple Pay, Finance, News

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In addition to adding Apple Pay support to its sixth country, Singapore, recently, Apple added yet another crop of United States banks and credit unions that can add their credit and debit cards to Apple Pay.

The list goes as follows:

Access Federal Credit Union
Alcoa Tenn Federal Credit Union
Audubon Savings Bank
Bank of Stockton
Barrington Bank & Trust Company N.A.
Beverly Bank & Trust Company N.A.
Champlain National Bank
Community Trust Bank
Connected Credit Union

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Apple Pay now supported by Barclays, all major UK banks

Posted by:
Date: Tuesday, April 5th, 2016, 08:00
Category: Apple Pay, Apple Watch, Finance, iPhone, News, Software, Wearables

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Apple appears to have locked down Barclays and the major UK banks for Apple Pay.

Barclays has announced that the bank has finally gone live and launched its support for Apple’s mobile payments service. This means that every major bank in the UK now supports Apple Pay, a big win for a country that already has wide availability of contactless merchant terminals in many stores.

Barclays customers can open the Wallet app on their iPhone and configure Apple Pay for their account on any iPhone 6, iPhone 6 Plus, iPhone 6s, iPhone 6s Plus and the new iPhone SE.

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Apple Pay adds 27 banks, credit unions in United States

Posted by:
Date: Friday, March 4th, 2016, 08:12
Category: Apple Pay, Finance, News

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Apple Pay is growing.

Following its launch in China and three million users logging on in just two days, Apple Pay has added another 27 bands and credit unions backing the 1,000+ partners in the U.S.:

1st Community Federal Credit Union

Abacus Federal Savings Bank

Bank of England

BankFirst Financial Services

Bull’s Eye Credit Union

Colfax Banking Company

Columbia Bank Florida

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ICBC confirms February 18th launch for Apple Pay in China

Posted by:
Date: Tuesday, February 16th, 2016, 08:27
Category: Apple Pay, Finance, News

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You can’t land a much bigger whale than the Chinese financial marketplace.

And it looks like Apple is headed there with Apple Pay.

Industrial and Commercial Bank of China has confirmed earlier reports that Apple Pay would launch in China this week, its social media posts stating that its service will go live on Thursday, February 18th. A further 18 lenders are signed up to the service, China Guangfa Bank Co and China Construction Bank Corp, will launch on the same day as ICBC.

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Google posts record profits, highlights Alphabet holding company details

Posted by:
Date: Monday, February 1st, 2016, 14:26
Category: Finance, Google, News

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Google just turned in some amazing quarterly numbers.

Alphabet, Google’s holding company, reported its fourth quarter earnings on Monday, the first ever in two segments, with separate figures its core business and its motley moonshots.

Google altogether beat expectations, reporting net revenue, minus partner site payout, of $17.3 billion on $8.67 earnings per share. Wall Street was looking for something around $16.9 billion on $8.10 in profit.

More important to Wall Street’s concerns, Google was able to show a meaty profit margin, especially when its costly venture projects are stripped away.

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Rumor: Bank of America, Wells Fargo, building Apple Pay support into ATMs

Posted by:
Date: Friday, January 29th, 2016, 08:48
Category: Apple Pay, Finance, Hardware, Rumor

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Apple Pay is coming to assorted Bank of America and Wells Fargo ATMS.

An anonymous source close to the story has stated that Bank of America and Wells Fargo are working on implementing Apple Pay into their ATMs. Both companies are said to have engineers working on the technology that would likely allow Apple Pay to be used at an ATM in place of a physical debit card.

When questioned about the possibility of Apple Pay at ATMs, Wells Fargo head of ATMs Jonathan Velline suggested the information was accurate and that Wells Fargo was working on adding support for mobile wallets that would meet all of its customers needs.

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Apple announces $75.9 in revenue, $18.4 billion profit for Q1 2016

Posted by:
Date: Tuesday, January 26th, 2016, 14:37
Category: Apple Watch, Finance, iPad, iPhone, News

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It’s hard to argue with an $18.4 billion profit.

This is what Apple had to announce for its Q1 numbers, the company citing an $18.4 billion profit on $75.9 billion in revenue.

During the conference call, Apple cited 74.7 million iPhones sold, 16.1 million iPads sold, and 5.3 million Macs sold. Although the October through December period was probably a stacked quarter for Apple Watches sales, the company doesn’t break out category sales for that product for “competitive” reasons.

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Leaked memo indicates that Barclays will support Apple Pay by April

Posted by:
Date: Tuesday, January 26th, 2016, 08:21
Category: Apple Pay, Finance, News

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U.K. bank Barclays has confirmed that it will launch Apple Pay within the next 45 to 60 days, based on a two-week-old email dated January 12, suggesting the bank will support the iPhone-based mobile payments service by no later than March 28.

The launch date was released by Barclays CEO of Personal and Corporate Banking Ashok Vaswani in what appears to be a legitimate email sent to customer Oli Foster-Burnell. The executive has emailed customers about Apple Pay in the past.

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Apple retail chief Ahrendts snags $25.8 in salary, stock and bonuses for 2015 financial year

Posted by:
Date: Friday, January 8th, 2016, 08:04
Category: Finance, News, retail

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If you ever doubted the power of corporate bonuses, keep in mind that Apple retail chief Angela Ahrendts just made almost $25.8 million in compensation last year, according to a regulatory filing.

Ahrendts, who draws a $1 million base salary, has also been awarded a $20 million stock grant, a $4 million bonus and relocation expenses of $474,981.

This is down from $73.4 million in 2014, in which Ahrendts was offered $37 million to compensate her for the value of the Burberry stock that she walked away from in accepting the Apple job, plus a new-hire stock allocation valued at $33 million.

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