NEWS
What to Expect From Apple's Earnings Next Week Following New Macs
1064
2023-07-28
Posted by 3uTools

Apple will report its earnings results for the third quarter of its 2023 fiscal year on Thursday, August 3 at 1:30 p.m. Pacific Time. Apple's CEO Tim Cook and CFO Luca Maestri will discuss the results on a conference call with analysts a half hour later.

What to Expect From Apple's Earnings Next Week Following New Macs


Keep reading for some key things to know about the quarter, including a recap of new products announced, revenue expectations, and more.

The quarter ran from April 2 through July 1, according to Apple's fiscal calendar, and included the following product launches:


  • 15-inch MacBook Air (M2 chip)

  • Mac Studio (M2 Max and M2 Ultra chips)

  • Mac Pro (M2 Ultra chip)

Apple has not provided formal revenue guidance since the start of the COVID-19 pandemic, but analysts currently expect the company to report revenue of around $81.6 billion this quarter on average, according to Yahoo Finance. This would be a decline of around 1.7% compared to the $83 billion revenue the company reported in the year-ago quarter.


Cook and Maestri will hold a conference call at 2:00 p.m. Pacific Time on August 3 to discuss the company's third quarter earnings results. The call should last around one hour and will include a Q&A segment with analysts.


A live audio stream of the conference call will be available on Apple's Investor Relations page, and a recording will be available later in the day for replay.


Apple's fourth quarter began July 2 and runs through September 30. Apple has yet to announce any new products during the quarter, but new iPhone and Apple Watch pre-orders are expected to begin in the final few weeks of the quarter.


AAPL is currently trading at around $194, and is up around 55% since the start of the year.


Source: Macrumors

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