Tim Cook used his final Apple earnings call to thank shareholders and analysts before handing future quarterly calls to incoming CEO John Ternus. The outgoing Apple chief kept the farewell brief and returned to the usual discussion of revenue, products, and financial performance.
“As you know, this will be my final earnings call, and John will lead these calls going forward,” Tim Cook said. “I couldn’t be more confident in his leadership, in our executive team, and in the extraordinary people at Apple.”
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Cook also described the leadership transition as smooth and said he felt optimistic about Apple’s future under Ternus. Analysts later thanked him for his leadership as the call moved into its regular question-and-answer section.
Tim Cook ends a 15-year earnings call run
Cook has led every quarterly earnings call since becoming Apple CEO in 2011, completing more than 60 calls during his time in charge. He also appeared on several calls before taking the top job, when Steve Jobs often left financial discussions to Cook and former CFO Peter Oppenheimer.
Apple earnings calls usually begin with prepared remarks before analysts ask questions about revenue, profit margins, product demand, and future plans. Cook regularly avoided discussing unreleased products, while still offering broader comments about Apple’s strategy and performance.
After these calls, Cook often walked around Apple Park to relax and reflect. In a 2020 interview, he said the campus helped make major business problems feel smaller.
Cook’s final call arrived after Apple reported another record quarter, although its share price still fell around 8% in after-hours trading. His short farewell closed a long chapter of Apple’s financial history while preparing investors for Ternus to take over future calls.
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