Wall Street is expecting Apple to report revenues around $94 billion and earnings-per-share of $1.43. That's an uptick from expectations for the March quarter in January, which hovered around $90.3 billion.
Despite being higher than Apple's historical performance during the March quarter, the expectations represent a downtick from the company's record-shattering holiday quarter. Apple reported $123.9 billion in revenue and earnings-per-share of $2.10.
What Wall Street expects from Apple’s earnings report today
This maker of iPhones, iPads and other products is expected to post quarterly earnings of $1.26 per share in its upcoming report, which represents a year-over-year change of +1.6%. Revenues are expected to be $88.43 billion, up 6.1% from the year-ago quarter.
Why it matters: In May, Snap warned investors it would miss its second quarter guidance. Wall Street's response to Snap's earnings report today, despite that mid-quarter warning, shows how spooked investors are by the severity of Snap's revenue headwinds.
The big picture: Snap's weak projections dragged down other ad-supported tech giants including Alphabet, Meta and Pinterest, out of fear of what a slowed ad market will mean for their numbers when they start to report earnings next week.
Revenue $121.14 billion vs. $123.95 billion in Q4 2021Earnings per share (EPS) $1.94 vs. $2.1 in Q4 2021 IPhone revenue: $68.3 billionMacBook revenue: $9.72 billionRevenue from products / services: $98.98 billion / $20.47 billionWall Street expects the company to report a decline in revenue for the first time since 2019. Apple intends to gradually move production out of China, which could affect costs. Analysts will turn their attention to sales of iPhones and MacBooks in the face of weaker economic conditions, supply chain issues and production shutdowns in China. Analysts estimate a 2% year-on-year decline in revenue in the usually record-breaking Christmas quarter, and expect a negative impact from the supply chain and exchange rates. According to analysts at Cowen, Apple's business will enter a slowdown after several years of boom that lasted in an environment of cheap debt financing and a very positive global economy.
Analysts estimate that PIR stock will flip from an 8-cent profit to a 5-cent loss when it reports fiscal first-quarter earnings Wednesday, on a nearly 3 percent decline in revenues, no less. In other words, no one is expecting much, so if Pier 1 simply managed to keep costs a little lower, that might be enough to impress investors.
Defying skeptics on Wall Street, Apple says it plans to keep setting records for selling new iPhones around the world. googletag.cmd.push(function() googletag.display('div-gpt-ad-1449240174198-2'); ); The giant tech company reported quarterly earnings Tuesday that beat analysts' estimates, while forecasting healthy iPhone sales during the upcoming holidays. Apple also said sales nearly doubled in China, Hong Kong and Taiwan during the last quarter, despite concerns that China's economy is slowing.And in a closely watched indicator, Apple issued a forecast for the upcoming December quarter that suggests it will slightly surpass last year's record of 74.5 million iPhones sold during the crucial holiday season."We think we can grow iPhone (sales) during the December quarter," Chief Financial Officer Luca Maestri told The Associated Press.Apple reported $11.1 billion in net income for the quarter ended Sept. 26, up 30 percent from a year earlier, while sales rose 22 percent to $51.5 billion. Earnings amounted to $1.96 cents a share.Analysts surveyed by FactSet expected Apple to report revenue of $50.9 billion and adjusted earnings of $1.89 a share. Apple's stock price was up almost 2 percent in after-hours trading.Apple said it sold 48 million iPhones during the September quarter, which included two days of sales for its newest iPhone models, the 6S and 6S Plus. That's about what analysts expected.But its forecast for the December quarter may please investors more. Apple's stock has been dogged for months by worries that the company might have difficulty maintaining its torrid growth. Apple relies heavily on iPhone sales, which contribute more than two-thirds of its revenue. Overall smartphone sales are slowing around the world, as most consumers in developed nations already have one.While it remains the world's biggest corporation by stock-market value, Apple shares have been off about 15 percent from a mid-July peak of $132.97.iPhone sales skyrocketed last year after Apple introduced new models with bigger screens in September 2014. Analysts have questioned whether the company can duplicate that success with the latest iPhones introduced last month.Last year's iPhone 6 and 6 Plus tapped into strong demand from consumers who had envied the larger screens offered by Apple's competitors. This year's iPhone 6S and 6S Plus have additional features, but they're not as dramatically different from last year's models."The iPhone 6 was such a blockbuster launch," said analyst Angelo Zino of S&P Capital IQ. As a result, he said, investors have been "cautious about whether that momentum can continue."Apple shares rose nearly 3 percent after the earnings report was released. 2015 The Associated Press. All rights reserved. 2ff7e9595c
Comments