Apple Expected to Report Its Best Third Quarter Ever Today
Apple is set to report its earnings results for the third quarter of its 2018 fiscal year at 1:30 p.m. Pacific Time today.
The quarter began April 1, 2018 and ran through June 30, 2018, according to Apple's fiscal year accounting calendar.
Apple provided the following guidance for the quarter back on May 1:
- revenue of $51.5 billion to $53.5 billion
- gross margin between 38 and 38.5 percent
- op. ex. of $7.7 billion to $7.8 billion
- other income/expense of $400 million
- tax rate of approximately 14.5 percent
Apple's guidance suggests it will report its best third quarter results ever, by revenue, comfortably topping its 2015 record of $49.6 billion:
- 2014: $37.4 billion
- 2015: $49.6 billion
- 2016: $42.4 billion
- 2017: $45.4 billion
- 2018: $51.5+ billion
Wall Street analysts forecast that Apple will report $52.3 billion revenue, meeting roughly the midpoint of its guidance, and earnings per share of $2.18, according to 29 estimates averaged by Yahoo Finance.
Key Takeaways and What to Look For
- iPhone unit sales of around 41.7 million, according to a FactSet estimate.
- Apple doesn't break out iPhone sales on a model-by-model basis, but the iPhone's average selling price should reveal whether the iPhone X remains Apple's best selling iPhone model since it launched, or if sales have slowed. iPhone ASP was $728 last quarter. $606 in year-ago quarter.
- iPad unit sales should be boosted by the new sixth-generation 9.7-inch iPad, released March 27, just four days before the third quarter.
- Apple's guidance for its fourth quarter, which runs from July 1 through September 29, as new iPhones will likely be available to order during the final two weeks of the quarter. Analysts expect revenue of $59.5 billion, based on 29 estimates averaged by Yahoo Finance.
- Apple's comments on the trade war between the United States and China, and what impact it could have on Apple products, if any.
- Continued growth of Apple's Services category, including the App Store, Apple Music, iCloud, iTunes, Apple Pay, and AppleCare. Loup Ventures expects Services growth of 19 percent on a year-over-year basis.
- Continued growth of Apple's Other Products category, including the Apple Watch, Apple TV, HomePod, AirPods, Beats, iPod touch, and accessories, as Apple diversifies revenue beyond the iPhone.
Apple's CEO Tim Cook and CFO Luca Maestri will discuss the company's earnings results on a conference call at 2:00 p.m. Pacific Time today. MacRumors will loosely transcribe the one-hour call as it occurs live.
Popular Stories
We've been focusing on deals on physical products over the past few weeks, but Black Friday is also a great time of year to purchase a streaming membership. Some of the biggest services have great discounts for new and select returning members this week, including Disney+, Hulu, Paramount+, Peacock, and more.
Note: MacRumors is an affiliate partner with some of these vendors. When you click a...
iOS 27 will reportedly have two major elements: quality improvements and new AI features.
In his Power On newsletter today, Bloomberg's Mark Gurman said that iOS 27 will be similar to Mac OS X Snow Leopard, in the sense that Apple is focused on improving "quality and underlying performance" over adding new features.
Gurman said there is one exception to this rule, though, as he expects...
We're only a few days away from Black Friday, which will take place on Friday, November 28 in 2025. As always, this will be the best time of the year to shop for great deals, including popular Apple products like AirPods, iPad, Apple Watch, and more. In this article, the majority of the discounts will be found on Amazon.
Note: MacRumors is an affiliate partner with some of these vendors. When...
iOS 26.2 is currently in beta testing. The upcoming update includes a handful of new features and changes on the iPhone, including a new Liquid Glass slider for the Lock Screen's clock, offline lyrics for Apple Music, and more.
In a recent press release, Apple confirmed that iOS 26.2 will be released to all users in December, but it did not provide a specific release date.
Keep reading...
On this week's episode of The MacRumors Show, we talk through all of the new features and improvements expected to come to next year's iPhone 18 Pro and iPhone 18 Pro Max models.
Subscribe to The MacRumors Show YouTube channel for more videos
Apple's next-generation iPhones are less than ten months away and we already have a good idea about what to expect based on corroborated leaks, rumors,...
American multinational news company CNN has abruptly pulled its content from Apple News, Semafor reports.
CNN quietly removed its stories from Apple News over the weekend and there is no longer a feed from the network to subscribe to in the app. This effectively ends its distribution agreement with Apple while the two sides negotiate new terms. Discussions are apparently ongoing and CNN's...
Apple's first foldable iPhone is expected to launch alongside the iPhone 18 Pro models in fall 2026, and it's shaping up to include three standout features that could set it apart from the competition.
The book-style foldable will reportedly feature an industry-first 24-megapixel under-display camera built into the inner display, according to a recent JP Morgan equity research report. That...
Black Friday deals have begun, and Amazon is one of the best places you can find steep discounts on numerous products this week. We've already collected all of the best Apple-related deals you'll find at Amazon (and other retailers) in our Apple Black Friday Deals post, so below you'll find other discounts on devices like Anker accessories, Beats headphones, video games, TVs, and more.
Note:...
Apple's annual four-day Black Friday through Cyber Monday shopping event is returning on Friday, November 28 through Monday, December 1 in many countries, including the United States, Canada, Australia, New Zealand, France, Germany, Italy, Spain, the United Kingdom, Belgium, the Netherlands, Sweden, Thailand, and others.
During the shopping event, customers can get an Apple gift card with...
