LIVE BLOG: Apple Q3 2018 earnings call

• Shares are up about 3.5% and crossed $197, making a new all-time high at 6:05 PM ET
• Conference call ends
• Tim Cook says a lot of people that buy Apple products buy for the whole ecosystem, even though they might not currently use all the different products
• Smart home business is bigger than HomePod and Apple TV. Apple has been focusing on all businesses; smart home, iPhone, iPad, etc.
• Apple hasn’t done an analysis on battery replacements or on iPhone upgrades
• With regards to iPhone ASP outlook, says that the company doesn’t provide unit or ASP guidance; September quarter revenue growth is expected to come from iPhone, services and wearables
• Apple Music has got more than 50 million listeners; includes paid and trial subscribers
• Excited about the partnership with Oprah. Recently hired senior TV executives

• With regards to China; iPhone, iPad, Services, Other Products all saw double-digit growth. Recently-imposed tariffs on Chinese goods don’t cover Apple products. Apple is evaluating  fourth tariff proposal covering about $200 billion worth of imports
• On iPhone trends, Cook says that iPhone X, 8 and 8 Plus are growing nicely
• On driving services revenue growth; had double-digit Services growth in all geographic segments
• Q&A starts
• Debt retired $6 billion; net cash balance $129 billion
• iPad unit sales grew for the fifth consecutive quarter; gained a significant share of the global tablet market based on the latest estimate from IDC.
• iPhone ASP growth, driven by iPhone X, 8 and 8-Plus

• Services revenue included a favorable $236 million one-time item related to the final resolution of various lawsuits
• iPhone revenue grew 20% year-over-year with iPhone ASP increasing to $724 from $606 a year ago
• Shares up 3.5% at 5:20 PM ET
• CFO Luca Maestri continues with the prepared remarks

Check out Apple Q3 2018 earnings infograph here

• Wearables revenue exceeded $10 billion over the last four quarters
• Apple Pay continues to expand, with well over 1 billion transactions
• Number of articles read on Apple news more than doubled year-over-year
• Apple music grew by over 50% year-over-year
• Developers have earned over $100 billion from the App Store since its launch
• Based on third-party research estimate, the app store generated nearly twice the revenue of Google Play so far in 2018
• On target to reach the goal of doubling fiscal 2016 Services revenue by 2020
• iPhone grew faster than the global smartphone market gaining share in many markets including the US, Greater China, Canada, Germany, etc.
• Double-digit growth in iPhone active installed base
• Seventh consecutive quarter of accelerated revenue growth
• Tim Cook starts his prepared remarks. The stock is up about 3% at 5:35 PM ET
• Q4 2018 revenue outlook $60-62 billion
• Stock up more than 3% and crosses $196 mark at 4:55 PM ET
• Will Apple surpass the 52-week high ($195.96) it achieved on last Thursday?

• “We’re thrilled to report Apple’s best June quarter ever, and our fourth consecutive quarter of double-digit revenue growth,” said CEO Tim Cook
• iPhone unit sales 41.3 million
• Shares up 2.5%
• Apple beats earnings and revenue estimates. EPS up 40% to $2.34, revenue up 17% to $53.3 billion
• Shares of Apple (AAPL) inched up 0.2% to $190.29 at the end of today’s regular trading session

Related: Apple Q2 2018 earnings call transcript