Apple posts record quarterly figures for first quarter of 2016

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Apple announced its first quarter financial results for the financial year of 2016, which ended on December 26, 2015.

The company posted record quarterly revenue of $75.9 billion and record quarterly net income or profit of $18.4 billion, the highest in the company’s history. In comparison, Apple earned $74.6 billion revenue and $18 billion net income in the year-ago quarter. International sales accounted for 66% of the quarter’s revenue.

In his statement, CEO Tim Cook attributed the record quarter to the strong sales of iPhone, Apple Watch, and Apple TV. He also said the growth of Apple’s Service business accelerated and the company’s install base crossed one billion active devices, roughly 1/7th the Earth’s population.

However, despite the impressive numbers, Apple’s stock fell after hours, as although the company exceeded the $18.22 billion net income projected figure by analysts, it fell short of the $76.67 projected revenue figure.

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Apple stock crosses $600 per share for the first time since 2012!

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Investors are liking Apple’s direction lately, pushing the stock to $600 per share for the first time since 2012. Shares of AAPL closed at $600.96 each on Monday, a nice hike up from the under $400 price the stock was sitting at in April 2013.

Apple’s shares were up more than $8 for the day to reach the 52 week high, bringing the Cupertino-based company’s market capitalization to a hefty $517.65 billion.

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It’s not new products that have pushed Apple’s stock higher – we haven’t seen the promised new product category yet – but rather continued successful quarterly performance, an increased stock buyback, and a 7-for-1 stock split that is set to take place in June.

“We’re confident in Apple’s future and see tremendous value in Apple’s stock, so we’re continuing to allocate the majority of our program to share repurchases,” Tim Cook, CEO of Apple, said in April on the company’s latest earnings call. ”We’re also happy to be increasing our dividend for the second time in less than two years.”

The increased buyback was announced in April, when Apple detailed it has raised its share repurchase authorization to $90 billion from the $60 billion level announced last year. Apple expects to utilize a total of over $130 billion of cash under the expanded program by the end of calendar 2015.

The seven-for-one stock split also impressed investors, as each Apple shareholder of record at the close of business on June 2, 2014 will receive six additional shares for every share held on the record date, and trading will begin on a split-adjusted basis on June 9.

Apple’s all-time high was reached in September 2012 when shares crossed $700 for a short period, before tumbling back down.

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Apple Q4 2013 earnings: 33.8M iPhones, 14.1M iPads, $37.5B revenue!

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As expected, Apple is out with its financial report for Q4 this afternoon. It’s an important one, as the company began selling two new handsets simultaneously last month, and Wall Street is dying to know how the strategy is working thus far.

Well, so far so good. Apple announced today that during its fourth quarter of 2013, it sold 33.8 million iPhones, beating Wall Street expectations of 31 million. It also sold 14.1 million iPads and garnered $37 billion in revenue. More after the fold…

Here is the full breakdown:

  • Revenue: $37.5 billion
  • EPS: $8.26
  • iPhones: 33.8 million units
  • iPads: 14.1 million
  • Mac: 4.6 million units

And here are some comments from CEO Tim Cook and CFO Peter Oppenheimer:

“We’re pleased to report a strong finish to an amazing year with record fourth quarter revenue, including sales of almost 34 million iPhones,” said Tim Cook, Apple’s CEO. “We’re excited to go into the holidays with our new iPhone 5c and iPhone 5s, iOS 7, the new iPad mini with Retina Display and the incredibly thin and light iPad Air, new MacBook Pros, the radical new Mac Pro, OS X Mavericks and the next generation iWork and iLife apps for OS X and iOS.”

“We generated $9.9 billion in cash flow from operations and returned an additional $7.8 billion in cash to shareholders through dividends and share repurchases during the September quarter, bringing cumulative payments under our capital return program to $36 billion,” said Peter Oppenheimer, Apple’s CFO.”

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Apple’s earnings call will start in just a few minutes. If you’d like, you can listen to a live webcast of the call via the the investors portal. Or, as usual, you can check back with iDB later this afternoon for commentary and major announcements.

The World’s 25 Highest-Paid Musicians 2012

With a whopping $110 million in pretax earnings, Dr. Dre is this year’s top-earning musician—thanks largely to his Beats headphone line. He leads a pack of pop stars, rock icons, rap moguls and country crooners, many of whom bank the bulk of their bucks outside the recording studio. Totals are calculated from May 2011 through May 2012.

The World's 25 Highest-Paid Musicians

1. Dr. Dre ($110 million)

His long-awaited album, Detox, is still on the shelf, but Dre still rakes in cash from old albums, production and the occasional concert. And then there’s that headphone line. The superproducer collected $100 million pretax when handset maker HTC paid $300 million for a 51% stake in the company last year, at the beginning of our scoring period (earlier this year, he and his partners bought back half of what they sold).

2. Roger Waters ($88 million)

2. Roger Waters ($88 million)

A founding member of Pink Floyd, Waters continues to rake in cash from his The Wall Live tour, in which he plays the aforementioned album straight through. According to Billboard Boxscore, he grossed $131 million from November 2011 to May 2012 alone.

3. Elton John ($80 million)

3. Elton John ($80 million)

The Rocketman is still going strong with over 100 shows in our scoring period, including a lengthy Las Vegas stint. His animated film Gnomeo and Juliet brought in $200 million at the box office. He’s also got his 30th solo album on the way.

4. U2 ($78 million)

4. U2 ($78 million)

The legendary Irish rockers wrapped up their record-breaking 360 tour—which grossed $736 million over three year—in August of 2011, just late enough to count a summer of touring in our scoring period.

5. Take That ($69 million)

5. Take That ($69 million)

The British boy band’s reunion tour grossed a record $61 million for eight dates at London’s Wembley Stadium alone, the highest-grossing single-stadium stand recorded to that point, while dozens of dates around Europe provided even more.

6. Bon Jovi ($60 million)

6. Bon Jovi ($60 million)

The veteran New Jersey rock act wrapped a world tour last summer but still managed to out-earn relative whippersnappers Kim Kardashian, Lil Wayne and Kate Moss combined. Could a breakup be on the horizon? Frontman Jon Bon Jovi has been spotted duetting with Warren Buffett in the Forbes building.

7. Britney Spears ($58 million)

7. Britney Spears ($58 million)

The pop diva returns to the ranks of music’s elite earners with millions from endorsements and a fragrance line with Elizabeth Arden. Her latest album, Femme Fatale, earned platinum certification in the U.S.

8. Paul McCartney ($57 million, tie)

8. Paul McCartney ($57 million, tie)

Sir Paul continues to rock, playing three dozen shows during our scoring period, including a rollicking Grammy performance that included a finale with Dave Grohl and Bruce Springsteen. Royalty checks from his Beatles days don’t hurt, either.

8. Taylor Swift ($57 million, tie)

8. Taylor Swift ($57 million, tie)

Swift grossed over $1 million per night on the road this year, and also earns big as one of the faces of CoverGirl. Her latest album, Red, moved 1.2 million units its opening week this fall, the best debut since 2002.

10. Justin Bieber ($55 million, tie)

10. Justin Bieber ($55 million, tie)

The 18-year-old is the youngest name on our list, thanks to sales of music and merchandise—and, more recently, stakes in startups including Tinychat, Stamped and Spotify.

10. Toby Keith ($55 million, tie)

10. Toby Keith ($55 million, tie)

With his Ford sponsorship entering its second decade and his I Love This Bar And Grill restaurant chain booming, Keith tops country earners for the second consecutive year. New album Clancy’s Tavern helped him sell out shows across the country.

12. Rihanna ($53 million)

12. Rihanna ($53 million)

The Barbados-born diva has parlayed the success of her music into lucrative sidelines: endorsements with the likes of Vita Coco and Nivea, a fragrance called Reb’l Fleur and a heavy touring schedule, to name a few.

13. Lady Gaga ($52 million)

13. Lady Gaga ($52 million)

The singer-songwriter still makes plenty of money off of music sales, padding her coffers with a new tour and new fragrance Fame.

14. Foo Fighters ($47 million)

14. Foo Fighters ($47 million)

Fifteen years after their debut smash The Colour and the Shape, the Foos are still rocking, most recently with last year’s Wasting Light and the ensuing tour.

15. Diddy ($45 million, tie)

15. Diddy ($45 million, tie)

The artist formerly known as Puff Daddy still continues to earn from a variety of non-musical deals—namely a share of profits from Diageo’s Ciroc vodka—as well as acting gigs, marketing firm Blue Flame and clothing line Sean John.

15. Katy Perry ($45 million, tie)

15. Katy Perry ($45 million, tie)

The only musician besides Michael Jackson to have five No. 1 singles from the same album, Perry continues to garner considerable airplay—and dollars. Her California Dreams Tour grossed nearly $60 million.

17. Kenny Chesney ($44 million)

17. Kenny Chesney ($44 million)

Though he didn’t get paid for his Thanksgiving gig in Dallas, Chesney nearly doubled his touring take over last year, making 48 stops in the U.S. and Canada on his Corona- and Hooters-sponsored tour during our scoring period.

18. Beyoncé ($40 million)

18. Beyoncé ($40 million)

After giving birth to baby Blue Ivy in January, Beyoncé took a break from her hectic touring schedule. But she still earns big from old hits, new album 4 and non-musical ventures like her House of Dereon clothing line and endorsement deals with companies like L’Oreal and DirecTV.

19. Red Hot Chili Peppers ($39 million)

19. Red Hot Chili Peppers ($39 million)

Opening week sales of the group’s new album I’m with You were just half that of 2006’s Stadium Arcadium, but the Chili Peppers still managed a massive year financially on the strength of a big tour and continued interest in their extensive back catalogue.

20. Jay-Z ($38 million)

20. Jay-Z ($38 million)

Though he doesn’t earn quite as much as his wife, Jay-Z continues to pull in proceeds from music (touring in support of his album with Kanye West) and business (deals with Duracell, Budweiser and others). For more on his financial dealings, check out Empire State of Mind: How Jay-Z Went From Street Corner to Corner Office.

21. Coldplay ($37 million)

21. Coldplay ($37 million)

The British pop-rockers returned to the spotlight with last year’s Mylo Xyloto, cashing in from over 50 concerts on the tour that followed.

22. Adele ($35 million, tie)

22. Adele ($35 million, tie)

The big-voiced Brit has sold over 23 million copies of her smash album 21, even more amazing in an era when selling 500,000 copies is a strong showing.

22. Kanye West ($35 million, tie)

22. Kanye West ($35 million, tie)

The mercurial rapper-producer had a big hit with his Jay-Z collaboration Watch the Throne and the ensuing tour; he also designs shoes for Nike and a line of women’s clothing

24. Michael Bublé ($34 million)

24. Michael Bublé ($34 million)

The top-earning Canadian musician not named Bieber pulled in millions from a long but efficient tour, as well as a multiplatinum Christmas album titled—what else—Christmas.

25. Sade ($33 million)

25. Sade ($33 million)

The reclusive Nigerian-born, Britain-bred singer-songwriter squeaks onto our list thanks to a lucrative tour that included nearly 100 show dates in our scoring period.

{ Forbes }

Woman Slammed With $15 Quadrillion Phone Bill!

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If there was ever an incentive to double-check your phone bills, this would be it: A woman in France was just slammed with a quadrillion dollar phone bill. Yes, really.A woman named Solenne San Jose — who cancelled her account with French phone company Bouygues Telecom — has reportedly received a bill in the mail for $15 quadrillion or €11,721,000,000,000,000. Although she knew there would be a cancellation fee for terminating the account ahead of the contract agreement, it was hardly the fine she was expecting. “There were so many zeros I couldn’t even work out how much it was,” San Jose told French news site Sud Ouest.The real kicker is that San Jose said she had difficult time convincing the company that it was actually an error. After identifying the issue as a printing problem, she was billed for only €117.21, or $151.