by Joe Rossignol
Apple will release its fiscal 2024 second quarter earnings results on Thursday, May 2 at 1:30 pm PT. Pacific time zone. Apple CEO Tim Cook and CFO Luca Maestri will discuss the results on a conference call with analysts in half an hour.
Continue reading to learn some key facts about this quarter, including an overview of new product announcements, expected earnings and more.
New products during the quarter
Quarter lasted from December 31, 2023 to March 30, 2024, according to Apple's financial calendar. The following products were released during this period:
- Apple Vision Pro
- 13-inch MacBook Air with M3 chip
- 15-inch MacBook Air with processor M3 chip
Revenue Expectations
Apple has not provided official revenue guidance since the COVID-19 pandemic began, but Wall Street's average estimate for Apple's second-quarter revenue is 90 billion dollars. According to Zacks Investment Research. That's down about 5% from the $94.8 billion in revenue the company reported in the year-ago quarter.
Maestri provided the following commentary on Apple's earnings report last quarter:
Maestri provided the following commentary on Apple's earnings report last quarter:
As a reminder, in the December quarter a year ago we experienced significant supply constraints for the iPhone 14 Pro and 14 Pro Max due to factory closures due to COVID-19. And in the March quarter a year ago, we were able to restock channels and meet significant pent-up demand due to restrictions. We estimate that this impact increased total revenue for the March quarter last year by nearly $5 billion. When we remove this impact from last year's revenue, we expect the company's overall March quarter revenue and iPhone revenue to remain the same as a year ago.
Conference Calls
Cook and Maestri will host a conference call at 2 p.m. PT on Thursday to discuss the company's quarterly earnings results. The call will last approximately an hour and will include a Q&A segment with analysts.
A live audio stream of the call will be available on Apple's Investor Relations page, with a replay available later in the day.
What's next
Apple's current quarter will last until June 29. Apple has not yet announced any new products during the quarter, but it is expected to do so. will unveil new versions of the iPad Pro, iPad Air, Apple Pencil and Magic Keyboard at the Let Loose event on May 7.
At the time of writing, AAPL is trading above $172 over its 52-week high. maximum – $199.62.
Tags: AAPL, Earnings[35 comments]
