Apple CEO Tim Cook and CFO Luca Maestri dropped a lot of “billions” during the company’s Q2 Financial Earnings call on Monday afternoon.
The growth witnessed in first financial quarter of 2015 has been nothing short of what Cook calls “simply staggering.” The iPhone saw massive success in emerging markets; the number of locations accepting Apple Pay tripled; Cedars-Sinai hospital in L.A. turned on the largest HealthKit integration ever. Oh, and in April, the company debuted its first wearable to be met with customer response that’s been “close to 100 percent positive,” according to Cook.
In fact, Cook couldn’t reiterate enough just how pleased he was with the Apple Watch’s performance. “I’m thrilled with it. [I’m] not sure how to say it any clearer than that,” he said.
“The response has been overwhelmingly positive, and adding to the surprise and delight of Apple Watch are the 3,500 developer apps already available,” he continued. Cook then pointed to the company’s history, stating that the iPhone debuted with only 500 apps available in-store, while the iPad had 1,000 upon its release. The internal goal for the Apple Watch was to beat the 1,000-app level, which was obviously greatly surpassed.
Cook and Maestri admitted that the Apple Watch is ramping slower than past product categories, but that it’s not a worry. “What we have now is not a situation that’s surprising to us.” The company is still filling Apple Watch orders solely online; even so, it anticipates being able to sell the watch in additional countries by late June. “Demand is greater than supply, so were working hard to remedy that,” Cook revealed. “We’ve made progress over the past week or so, and were able to deliver more customers than initially anticipated.”
When pressed by journalists on the call, Cook refused to make any longer forecasts or comments on consensus numbers, saying only, “It’s tough to find something in the numbers not to like.” Instead, he reverted back to the quality of the Apple Watch, ending with,“The functionality and power of our product is absolutely incredible.”
It’s clear Cook is not losing any sleep over Apple earnings or the Apple Watch, in particular. If anything, he’s dreaming about referencing even more “billions” during next quarter’s call.