What to Expect From Apple's Quarterly Earnings Report This Week
Apple will report its earnings results for the third quarter of its 2024 fiscal year on Thursday, August 1 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.
Keep reading for some key things to know about the quarter, including a recap of new products announced, revenue expectations, and more.
New Products During Quarter
The quarter ran from March 31 through June 29, according to Apple's fiscal calendar. The following products launched during this period:
- 11-inch iPad Pro with M4 chip
- 13-inch iPad Pro with M4 chip
- 11-inch iPad Air with M2 chip
- 13-inch iPad Air with M2 chip
- Apple Pencil Pro
- Vision Pro pre-orders in eight additional countries
Revenue Expectations
Apple has not provided formal revenue guidance since before the COVID-19 pandemic, but the average Wall Street estimate for Apple's third quarter revenue is $84.5 billion, according to data compiled by Yahoo Finance. This would be around a 3% increase over the $81.8 billion revenue the company reported in the year-ago quarter.
This would be in line with the outlook that Apple's CFO provided on last quarter's earnings call:
We expect our June quarter total company revenue to grow low-single-digits year-over-year in spite of a foreign exchange headwind of about 2.5 percentage points.
Conference Call
Cook and Maestri will hold a conference call at 2:00 p.m. Pacific Time on Thursday to discuss the company's quarterly earnings results. The call should last around one hour, and it 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.
What's Next
Apple's current quarter runs through September 28, and the company has yet to announce any new products during this period.
AAPL is trading for around $223 as of writing, down from a 52-week high of $237.23.
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