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Home » Apple’s (AAPL) CEO Tim Cook on Q3 2014 Results – Earnings Call Transcript

Apple’s (AAPL) CEO Tim Cook on Q3 2014 Results – Earnings Call Transcript


Source: Seeking Alpha


Apple Inc. (NASDAQ:AAPL)

Q3 2014 Earnings Conference Call

July 22, 2014 05:00 AM ET


Nancy Paxton – Senior Director of Investor Relations

Tim Cook – CEO

Luca Maestri – SVP and CFO


Katy Huberty – Morgan Stanley

Bill Shope – Goldman Sachs

Toni Sacconaghi – Sanford Bernstein

Steve Milunovich – UBS

Kulbinder Garcha – Credit Suisse

Ben Reitzes – Barclays

Ben Schachter – Macquarie



Good day, everyone, and welcome to the Apple Incorporated Third Quarter Fiscal Year 2014 Earnings Release Conference Call. Today’s call is being recorded. At this time, for opening remarks and introductions, I would like to turn the call over to Nancy Paxton, Senior Director of Investor Relations. Please go ahead.

Nancy Paxton

Thank you. Good afternoon, and thanks everyone for joining us today. Speaking first is Apple CEO, Tim Cook; and he will be followed by CFO, Luca Maestri, and then we’ll open the call for questions from analysts. Please note that some of the information you’ll hear during our discussion today will consist of forward-looking statements, including without limitation, those regarding revenue, gross margins, operating expenses, other income and expense, taxes, future products.

Actual results or trends could differ materially from our forecast. For more information, please refer to the risk factors discussed in Apple’s Form 10-K for 2013, the Form 10-Q for the first two quarters of fiscal 2014, and the Form 8-K filed with the SEC today, along with the associated press release. Apple assumes no obligation to update any forward-looking statements or information, which speak as of their respective dates.

I’d now like to turn the call over to Tim for introductory remarks.

Tim Cook

Thanks, Nancy. Good afternoon, everyone. It’s been a very busy and exciting time at Apple and I’d like to review some of the highlights of our June quarter. We hosted our best ever Worldwide Developer’s Conference last month with over 20 million people from around the world watching our keynote session, which is the a record. We’ve had overwhelming response from customers and developers to the new features we previewed in OS X Yosemite and iOS 8. Yosemite has been redesigned with a fresh look and powerful new apps and iOS 8 is the biggest release since the launch of the App Store. With powerful continuity features, these upcoming releases will allow Macs and iOS devices to work together in even smarter ways.

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