The number 7 was lucky for Apple, as worldwide sales of the iPhone 7 and 7 Plus hit a quarterly record and put the breaks on a three-quarter revenue skid, the company said in today’s first quarter earnings report.
Apple saw a 5 percent revenue increase ($54.3 million) with more than 78 million iPhones sold. It was the first full quarter of the iPhone 7, delivered during a time of year that typically generates the best sales figures for Apple because of the holiday shopping season.
When Apple reveals its first quarterly earnings report of 2017 next Tuesday, the company could shock us with another record-breaking quarter.
The Q1 2017 earnings will cover Apple’s first full quarter of iPhone 7 and iPhone 7 Plus sales, and Apple should also get a big boost from the holiday shopping season, according to some Wall Street estimates. During its last earnings call, Apple predicted its revenue slump will end as the company finally returns to growth this quarter, but will it be enough to satisfy investors?
Here’s what to expect from Apple’s January 31 earnings report.
Apple can’t make enough iPhone 7 devices to satisfy demand from customers (and from Wall Street to make more money).
During Apple’s Q4 2016 earnings call today, Apple CEO Tim Cook and CFO Luca Maestri hinted that big things are in the pipeline that should put the company back on track to growth — and it all starts Thursday with the MacBook Pro.
All eyes are on Apple this afternoon as the company is set to report its Q3 2016 earnings and Wall Street isn’t expecting anything great.
Apple CEO Tim Cook warned in March that the company will post declining revenues compared to a year ago, but with iPhone sales on the decline as customers wait to upgrade to the iPhone 7, the numbers could be a bit lower than investors are hoping for.
Today’s earnings call for Q3 2016 is set to kick off at 2 p.m. Pacific, when analysts from the top firms around the world will have a chance to ask Tim Cook and CFO Luca Maestri whether iPhone sales have finally bottomed out, or if things are still going to get worse before they get better.
Apple is set to reveal its quarterly earnings this afternoon for the third fiscal quarter of 2016 and if the analysts are right, it could be even worse than Apple’s last disastrous quarter.
Investors were advised by Apple during the last earnings call that revenue will likely be down from what it was in the same quarter last year. Apple is hoping it can get a boost from the iPhone SE and the App Store to stay within expectations, however troubles in China and low iPhone demand could hurt the company more than expected.
Here’s what to watch for when Tim Cook and Luca Maestri talk to investors later this afternoon:
Apple earnings calls are usually a time for celebration and gloating, but for the first time in over a decade the company is poised to post declining profits.
Tim Cook warned Wall Street that this would likely happen due to declining iPhone sales. Have we really reached “peak iPhone”?
Analysts and reporters will be grilling Cook and Apple CFO Luca Maestri during today’s Q2 2016 earnings call. Investors will be looking for signs that Apple still has room to grow. And Cult of Mac will be right here, liveblogging the entire Apple earnings call — and translating the financial gibberish — when the big event starts at 2 p.m. Pacific.