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.
Popular Stories
iOS 19 is still around six months away from being announced, but a new leak has allegedly revealed a completely redesigned Camera app.
Based on footage it obtained, YouTube channel Front Page Tech shared a video showing what the new Camera app will apparently look like, with the key change being translucent menus for camera controls. Overall, the design of these menus looks similar to...
Apple today adjusted estimated trade-in values for select iPhone, iPad, Mac, and Apple Watch models in the U.S., according to its website.
Some values increased, while others decreased. The changes were not too significant, with most values rising or dropping by $5 to $50.
We have outlined some examples below:
Device
New Value
Old Value
iPhone 15 Pro Max
Up to $630
U ...
Apple on late Saturday removed TikTok from the App Store in the U.S., and it has now explained why it was required to take this action.
Last year, the U.S. passed a law that required Chinese company ByteDance to divest its ownership of TikTok due to potential national security risks, or else the platform would be banned. That law went into effect today, and companies like Apple and Google...
Apple provided the third beta of iOS 18.3 to developers today, and while the betas have so far been light on new features, the third beta makes some major changes to Notification Summaries and also tweaks a few other features.
Notification Summary Changes
Apple made multiple changes to Notification Summaries in response to complaints about inaccurate summaries of news headlines.
For...
iOS 19 will not drop support for any iPhone models, according to French website iPhoneSoft.fr.
The report cited a source who said iOS 19 will be compatible with any iPhone that can run iOS 18, which would mean the following models:
iPhone 16
iPhone 16 Plus
iPhone 16 Pro
iPhone 16 Pro Max
iPhone 15
iPhone 15 Plus
iPhone 15 Pro
iPhone 15 Pro Max
iPhone 14
iPhon...
For the last several months, we've been hearing rumors about a redesigned version of the iPhone 17 that Apple might call the iPhone 17 "Air," or something along those lines. It's going to replace the iPhone 17 Plus as Apple's fourth iPhone option, and it will be offered alongside the iPhone 17, iPhone 17 Pro, and iPhone 17 Pro Max.
We know the iPhone 17 Air is going to be super slim, but...
Apple plans to expand the iPhone's redesigned Mail app to the Mac starting with macOS 15.4, according to Bloomberg's Mark Gurman.
The first macOS 15.4 beta should be made available in the coming weeks, and Apple has previously suggested that the iOS 18.4, iPadOS 18.4, and macOS 15.4 series of software updates will be released to the public in April.
The revamped Mail app debuted on all...
In September, Apple said that it would be launching Powerbeats Pro 2 in 2025, and it appears the wireless earbuds are coming very soon.
Powerbeats Pro 2 images found in iOS 18 code
In his Power On newsletter today, Bloomberg's Mark Gurman said the Powerbeats Pro 2 are "due imminently." In addition to Apple filing the Powerbeats Pro 2 in regulatory databases last month, Gurman said Apple is...
