Apple soars past Wall Street expectations as CEO Tim Cook prepares to step down

Company reported $111.2bn in revenue in first earnings report after announcement of Cook's pending departure

Apple blew past Wall Street expectations in its first earnings report since it announced CEO Tim Cook would be stepping down.

Cook shared his thoughts about the leadership transition on Thursday, saying: There's no one on this planet I trust more to lead Apple into the future" than incoming CEO John Ternus. Asked by an investor what advice he's given Ternus, Cook said: Never forget the north star for the company. You know, we're about making the best products in the world that really enrich other people's lives." Ternus spoke briefly, too, praising Cook's thoughtfulness in financial decision-making and saying: This is the most exciting time in my 25-year career at Apple to be building products and services."