Apple Expected to Report Second-Best June Quarter Ever Today as Investors Look Ahead to iPhone 8

Apple BondsApple is set to report its earnings results for the third quarter of its 2017 fiscal year at 1:30 p.m. Pacific Time today.

Apple provided the following guidance for its third quarter on May 2:

• revenue between $43.5 billion and $45.5 billion
• gross margin between 37.5 percent and 38.5 percent
• operating expenses between $6.6 billion and $6.7 billion
• other income/expense of $450 million
• tax rate of 25.5 percent

That guidance suggests Apple will report its second-best third quarter earnings results in the company's history. The quarter corresponds with April 1, 2017 through July 1, 2017.

Apple's Fiscal Third Quarter

• 2013: $35.3 billion
• 2014: $37.4 billion
• 2015: $49.6 billion
• 2016: $42.3 billion
2017: $43.5+ billion

Wall Street's consensus is that Apple will report approximately $44.9 billion revenue and earnings per share of $1.57, according to dozens of estimates averaged by Thomson Reuters and Yahoo Finance.

Apple is forecasted to have sold 40.7 million iPhones, 9 million iPads, and 4.3 million Macs, according to average estimates shared by Wells Fargo, compared to 40.4 million, 9.95 million, and 4.25 million respectively in the year-ago quarter.

Screen Shot 2017 05 02 at 4
MacRumors.com compiled third quarter estimates from several financial institutions and analysts tracking Apple and the company's stock. The figures are listed below, ranked from highest to lowest in quarterly revenue.

AAPL Q3 2017 earnings estimates
All signs point to Apple reporting an above-average and generally unsurprising June quarter. The most interesting takeaway will be Apple's fourth quarter guidance and any clues that provides about the so-called iPhone 8.

In addition to iPhone sales, investors will be looking for continued growth of Apple's services category, which includes the likes of the App Store, iTunes Store, Apple Music, Apple Pay, AppleCare, and licensing fees.

Apple CEO Tim Cook and CFO Luca Maestri will discuss the company's financial results on a conference call at 2:00 p.m. Pacific Time. MacRumors.com will transcribe the call as it unfolds for those unable to listen.

Tags: AAPL, Earnings

Popular Stories

iPhone 17 Pro 34ths Perspective

iPhone 17 Pro Launching Later This Year With These 10 New Features

Sunday March 23, 2025 10:00 am PDT by
While the iPhone 17 Pro and iPhone 17 Pro Max are not expected to launch until September, there are already plenty of rumors about the devices. Below, we recap key changes rumored for the iPhone 17 Pro models as of March 2025: Aluminum frame: iPhone 17 Pro models are rumored to have an aluminum frame, whereas the iPhone 15 Pro and iPhone 16 Pro models have a titanium frame, and the iPhone ...
iOS 18

iOS 18.4 Expected Next Week - Here Are the Release Notes

Friday March 28, 2025 2:01 pm PDT by
With the second release candidate of iOS 18.4 that Apple seeded out today, the company finally provided us with release notes that give a full rundown on what to expect. There's an Apple Vision Pro app, new Apple Intelligence features for notifications and additional language support, plus an Apple News Food feature for Apple News+ subscribers, and several updates that should improve the...
Magic Mouse Green

What to Expect From the Magic Mouse 3

Saturday March 29, 2025 10:15 am PDT by
Apple is reportedly working on a new Magic Mouse. Below, we recap what to expect. The two key rumors for the Magic Mouse 3 so far include a relocated charging port, along with a more ergonomic design. It was briefly rumored that the Magic Mouse 3 would also feature voice control, but that was misinterpreted information. Relocated Charging Port While the Magic Mouse switched from...
top stories 2025 03 29

Top Stories: WWDC 2025 Announced, iPhone 17 Pro and iOS 19 Rumors, and More

Saturday March 29, 2025 6:00 am PDT by
Apple's big developer event is a little over two months away, and rumors about what we can expect to see in Apple's next major operating system updates are becoming increasingly frequent. A public release of iOS 18.4 is also imminent with a number of updates and improvements, although we won't be getting the major Apple Intelligence Siri upgrades that had reportedly been planned for this...
Foldable iPhone 2023 Feature Homescreen

Six Things to Know About Apple's Upcoming Foldable iPhone

Friday March 28, 2025 3:54 pm PDT by
We've been hearing rumors about a foldable iPhone for almost a decade now, but it looks like we might finally see the device come to fruition in 2026. We're going to be waiting many more months for the foldable iPhone, but so far we're hearing good things. Apple wants to make it creaseless. It's taken Apple multiple years to design a foldable iPhone that it's satisfied with because Apple ...
iOS 19 visionOS UI Elements

Apple Codename Provides Clue About iOS 19's Rumored New Design

Sunday March 30, 2025 6:40 am PDT by
Multiple sources have claimed that iOS 19 will introduce a new design with more translucent buttons, menus, notification banners, and more, and there is now another clue that points towards this glass-like appearance. Bloomberg's Mark Gurman today said the new design project is codenamed "Solarium" internally. A solarium is a room with glass walls that allow in plenty of sunlight, so this...
Facebook Feature

Facebook's New iPhone App Feature Turns the Clock Back to 2007

Thursday March 27, 2025 1:59 pm PDT by
In the mid-to-late 2000s, Facebook was all about staying connected with friends and family. However, as the social media platform added new features and grew over time, that core experience began to get drowned out. That changes starting now, according to Meta, which today introduced a new feature that will "bring back the joy" of classic Facebook. Specifically, Meta has redesigned the...
Foldable iPhone 2023 Feature Homescreen

iPhone Foldable Display Said to Feature iPad-Style 4:3 Aspect Ratio

Friday March 28, 2025 3:44 am PDT by
Apple's upcoming "iPhone Fold" will feature a foldable screen with a 4:3 aspect ratio, according to a Chinese leaker who previously leaked the book-style device's display dimensions. The Weibo-based account Digital Chat Station claims that Apple will adopt a "roughly" 4:3 aspect ratio on the inner display in order to achieve consistency between the outer display, as well as to ensure parity...

Top Rated Comments

OldSchoolMacGuy Avatar
100 months ago
But MacRumors readers were positive that Apple was dying with the lackluster release of the new MBP, the lack of a new Mac Pro, the failure to update the Air, and the boring release of the iPhone 7 with many waiting for the 8. :rolleyes:

And again my stock continues to climb.
Score: 11 Votes (Like | Disagree)
Ries Avatar
100 months ago
That’s impossible everyone in the comment sections of tech sites keep saying Apple is in danger and no one wants their devices
Apple is not like Samsung. Samsung makes everything from warships to washing machines. If Apple ever failed in making a selling iPhone, their stock would sink like a ship hit by a torpedo. Apple is iPhone.
Score: 10 Votes (Like | Disagree)
Remy149 Avatar
100 months ago
That’s impossible everyone in the comment sections of tech sites keep saying Apple is in danger and no one wants their devices
Score: 8 Votes (Like | Disagree)
DEMinSoCAL Avatar
100 months ago
But MacRumors readers were positive that Apple was dying with the lackluster release of the new MBP, the lack of a new Mac Pro, the failure to update the Air, and the boring release of the iPhone 7 with many waiting for the 8. :rolleyes:

And again my stock continues to climb.
Take away the iPhone and your stock TANKS! Apple IS currently a ONE HIT WONDER. Every other category is small, and flat or decreasing. So, you are correct...lackluster new MBP, lack of Mac Pro, etc., keeps those categories either flat or sinking.
Score: 4 Votes (Like | Disagree)
cardfan Avatar
100 months ago
Apple makes most profit on iPhones compared to their other products. thats a lot of the business depending on a single product.
Given all new redesign and bezel less OLED display this year, iPhone 8 Gonna break all previous record sales.
Perhaps. I don't care about a redesign. I just wanted OLED but it appears we're getting it with conditions such as no touch ID. Guess we just have to wait and see what compromise Apple has in store for us.
Score: 3 Votes (Like | Disagree)
Bacillus Avatar
100 months ago
iPhone dependance runs into crazy proportions. That's so risky.
Whereas the man who said the PostPC-era had started - and assumed iPad would take over - appeared not to understand (how to drive) the market.
Score: 2 Votes (Like | Disagree)