Apple Expected to Report Its Best Third Quarter Ever Today

aapl logo 2018Apple 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.

Tags: AAPL, Earnings

Popular Stories

iPhone 17 Pro Blue Feature Tighter Crop

iPhone 17 Pro Launching Later This Year With These 13 New Features

Wednesday April 23, 2025 8:31 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 April 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 ...
iphone 17 dummies sonny dickson

iPhone 17 Air Almost as Thin as Its Buttons, New Images Show

Thursday April 24, 2025 2:14 am PDT by
If you missed the video showing dummy models of Apple's all-new super thin iPhone 17 Air that's expected later this year, Sonny Dickson this morning shared some further images of the device in close alignment with the other dummy models in the iPhone 17 lineup, indicating just how thin it is likely to be in comparison. The iPhone 17 Air is expected to be around 5.5mm thick – with a thicker ...
AirPods Pro 3 Mock Feature

AirPods Pro 3 Just Months Away – Here's What We Know

Friday April 18, 2025 5:16 am PDT by
Despite being more than two years old, Apple's AirPods Pro 2 still dominate the premium wireless‑earbud space, thanks to a potent mix of top‑tier audio, class‑leading noise cancellation, and Apple's habit of delivering major new features through software updates. With AirPods Pro 3 widely expected to arrive in 2025, prospective buyers now face a familiar dilemma: snap up the proven...
iphone 17 air dummy unbox therapy

iPhone 17 Air's Extreme Thinness Demoed in New Video

Tuesday April 22, 2025 10:22 am PDT by
Apple plans to release an all-new super thin iPhone this year, debuting it alongside the iPhone 17, iPhone 17 Pro, and iPhone 17 Pro Max. We've seen pictures of dummy models, cases, and renders with the design, but Lewis Hilsenteger of Unbox Therapy today showed off newer dummy models that give us a better idea of just how thin the "iPhone 17 Air" will be. The iPhone 17 Air is expected to be ...
iPhone 17 Air Pastel Feature

iPhone 17 Air Launching Later This Year With These 16 New Features

Thursday April 24, 2025 8:24 am PDT by
While the so-called "iPhone 17 Air" is not expected to launch until September, there are already plenty of rumors about the ultra-thin device. Overall, the iPhone 17 Air sounds like a mixed bag. While the device is expected to have an impressively thin and light design, rumors indicate it will have some compromises compared to iPhone 17 Pro models, including only a single rear camera, a...
ipad air windows 11 arm

M2 iPad Air Runs Windows 11 ARM via Emulation, Thanks to EU Rules

Tuesday April 22, 2025 5:01 am PDT by
A developer has demonstrated Windows 11 ARM running on an M2 iPad Air using emulation, which has become much easier since the EU's Digital Markets Act (DMA) regulations came into effect. As spotted by Windows Latest, NTDev shared an instance of the emulation on social media and posted a video on YouTube (embedded below) demonstrating it in action. The achievement relies on new EU regulatory...
Global Close Your Rings Day Pin

Apple Stores Giving Away a Limited-Edition Pin For Free Today

Thursday April 24, 2025 10:15 am PDT by
Starting today, April 24, Apple Stores around the world are giving away a special pin for free to customers who request one, while supplies last. Photo Credit: Filip Chudzinski The enamel pin's design is inspired by the Global Close Your Rings Day award in the Activity app, which Apple Watch users can receive by closing all three Activity rings today. The limited-edition pin is the physical...
Apple Logo Spotlight Blue

White House Hits Back at Apple's Massive EU Fine

Thursday April 24, 2025 5:57 am PDT by
Apple's $570 million fine from the EU has triggered a sharp rebuke from the White House, which called the fine a form of economic extortion, Reuters reports. The fine was announced on Wednesday by the European Commission, following a formal investigation into Apple's compliance with the bloc's Digital Markets Act (DMA), a landmark piece of legislation aimed at curbing the market dominance of ...
ipad air magic keyboard feature

iPadOS 19 Rumored to Show Mac-Like Menu Bar When Connected to Magic Keyboard

Thursday April 24, 2025 12:09 pm PDT by
When an iPad running iPadOS 19 is connected to a Magic Keyboard, a macOS-like menu bar will appear on the screen, according to the leaker Majin Bu. This change would further blur the lines between the iPad and the Mac. Bloomberg's Mark Gurman previously claimed that iPadOS 19 will be "more like macOS," with unspecified improvements to productivity, multitasking, and app window management,...

Top Rated Comments

now i see it Avatar
88 months ago
As Apple's wealth increases, the Mac user experience goes down the toilet. Funny how that works.
Score: 6 Votes (Like | Disagree)
OldSchoolMacGuy Avatar
88 months ago
Apple is doomed. Fire Tim Cook. /s
Score: 5 Votes (Like | Disagree)
arkitect Avatar
88 months ago
As Apple's wealth increases, the Mac user experience goes down the toilet. Funny how that works.
So true.

Look, I want Apple to be successful. But this level of success tends to make a company (or a person) complacent… and that is where I find myself at odds with Apple.

A huge multi billion (trillion?) company resting on its laurels… in this case the success of the iPhone.

I yearn for the Apple with iCEO Jobs at the helm. Kicking arse and reinventing themselves. Great products and leading the way…

*shrug*
Score: 4 Votes (Like | Disagree)
I7guy Avatar
88 months ago
Here come the stockholders with their doomed sarcasm rubbish.

Great for you and the execs who already don’t need more millions, but at best, utterly meaningless to consumers. At worst, it emboldens Apple to keep up with the gouging, which is clearly detrimental to the consumer.
I didn’t think Apple was forcing you to buy their products. There are “great” android phones available for half the price.
Score: 4 Votes (Like | Disagree)
OldSchoolMacGuy Avatar
88 months ago
Well, I can tell you that I deleted my FB account as soon as that Cambridge Analytica shenannagin became public
Good for you. The numbers show that very very few did. Like less than 100,000. It wasn't nearly as big of a deal (from that standpoint) as people made it out to be. #DeleteFacebook was a huge failure.
Score: 3 Votes (Like | Disagree)
travelsheep Avatar
88 months ago
€1200 for a phone, €3000 for a entry level MacBook Pro, €100 for the yearly developer license, keeping a 30 % cut on every app sale ... no surprises here
Score: 2 Votes (Like | Disagree)