Apple Q3 2016 Earnings Summary — Apple just released its Q3 2016 earnings statement and quarterly revenue was down year-over-year for the second quarter in a row. The company posted quarterly revenue of $42.4 billion and a quarterly net income of $7.8 billion. Those compare to $49.6 billion and $10.7 billion in the year-ago quarter. Services grew 19% year-over-year, and App Store revenue was at its highest level ever. The company returned $13 billion to investors as part of the share repurchase and dividend programs, completing almost $177 billion of the expected $250 billion capital return program. Wall Street was ‘relieved‘; Mac sales were still down year-over-year, but up 5% from the previous quarter. As a percentage of revenue, Apple’s R&D spending is the highest it’s ever been. [It needs to be – now even I am worried that Apple is becoming moribund.]
Apple scores exclusive deal for CBS Carpool Karaoke TV series — Carpool Karaoke, the wonderfully fun segment on The Late Late Show where host James Cordon sings in his car with celebrities, is getting its own spin-off series streaming exclusively on Apple Music. The deal shows Apple’s growing interest in original content, and could draw more subscribers to its streaming music service.