Earnings, Carpool Karaoke


First Lady Michelle Obama joins James Cordon for Carpool Karaoke, which will become an iTunes Music exclusive series.
First Lady Michelle Obama joins James Cordon for Carpool Karaoke, which will be spun off into an iTunes Music exclusive series.

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.