Apple Expected to Report Second-Best June Quarter Ever Today as Investors Look Ahead to iPhone 8

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Apple BondsApple is set to report its earnings results for the third quarter of its 2017 fiscal year at 1:30 p.m. Pacific Time today.

Apple provided the following guidance for its third quarter on May 2:

• revenue between $43.5 billion and $45.5 billion
• gross margin between 37.5 percent and 38.5 percent
• operating expenses between $6.6 billion and $6.7 billion
• other income/expense of $450 million
• tax rate of 25.5 percent

That guidance suggests Apple will report its second-best third quarter earnings results in the company's history. The quarter corresponds with April 1, 2017 through July 1, 2017.

Apple's Fiscal Third Quarter

• 2013: $35.3 billion
• 2014: $37.4 billion
• 2015: $49.6 billion
• 2016: $42.3 billion
• 2017: $43.5+ billion

Wall Street's consensus is that Apple will report approximately $44.9 billion revenue and earnings per share of $1.57, according to dozens of estimates averaged by Thomson Reuters and Yahoo Finance.

Apple is forecasted to have sold 40.7 million iPhones, 9 million iPads, and 4.3 million Macs, according to average estimates shared by Wells Fargo, compared to 40.4 million, 9.95 million, and 4.25 million respectively in the year-ago quarter.

Screen Shot 2017 05 02 at 4
MacRumors.com compiled third quarter estimates from several financial institutions and analysts tracking Apple and the company's stock. The figures are listed below, ranked from highest to lowest in quarterly revenue.

AAPL Q3 2017 earnings estimates
All signs point to Apple reporting an above-average and generally unsurprising June quarter. The most interesting takeaway will be Apple's fourth quarter guidance and any clues that provides about the so-called iPhone 8.

In addition to iPhone sales, investors will be looking for continued growth of Apple's services category, which includes the likes of the App Store, iTunes Store, Apple Music, Apple Pay, AppleCare, and licensing fees.

Apple CEO Tim Cook and CFO Luca Maestri will discuss the company's financial results on a conference call at 2:00 p.m. Pacific Time. MacRumors.com will transcribe the call as it unfolds for those unable to listen.

Tags: Earnings, AAPL

Top Rated Comments

OldSchoolMacGuy Avatar
OldSchoolMacGuy
72 months ago
But MacRumors readers were positive that Apple was dying with the lackluster release of the new MBP, the lack of a new Mac Pro, the failure to update the Air, and the boring release of the iPhone 7 with many waiting for the 8. :rolleyes:

And again my stock continues to climb.
Score: 11 Votes (Like | Disagree)
Ries Avatar
Ries
72 months ago
That’s impossible everyone in the comment sections of tech sites keep saying Apple is in danger and no one wants their devices
Apple is not like Samsung. Samsung makes everything from warships to washing machines. If Apple ever failed in making a selling iPhone, their stock would sink like a ship hit by a torpedo. Apple is iPhone.
Score: 10 Votes (Like | Disagree)
Remy149 Avatar
Remy149
72 months ago
That’s impossible everyone in the comment sections of tech sites keep saying Apple is in danger and no one wants their devices
Score: 8 Votes (Like | Disagree)
dmylrea Avatar
dmylrea
72 months ago
But MacRumors readers were positive that Apple was dying with the lackluster release of the new MBP, the lack of a new Mac Pro, the failure to update the Air, and the boring release of the iPhone 7 with many waiting for the 8. :rolleyes:

And again my stock continues to climb.
Take away the iPhone and your stock TANKS! Apple IS currently a ONE HIT WONDER. Every other category is small, and flat or decreasing. So, you are correct...lackluster new MBP, lack of Mac Pro, etc., keeps those categories either flat or sinking.
Score: 4 Votes (Like | Disagree)
cardfan Avatar
cardfan
72 months ago
Apple makes most profit on iPhones compared to their other products. thats a lot of the business depending on a single product.
Given all new redesign and bezel less OLED display this year, iPhone 8 Gonna break all previous record sales.
Perhaps. I don't care about a redesign. I just wanted OLED but it appears we're getting it with conditions such as no touch ID. Guess we just have to wait and see what compromise Apple has in store for us.
Score: 3 Votes (Like | Disagree)
Bacillus Avatar
Bacillus
72 months ago
iPhone dependance runs into crazy proportions. That's so risky.
Whereas the man who said the PostPC-era had started - and assumed iPad would take over - appeared not to understand (how to drive) the market.
Score: 2 Votes (Like | Disagree)
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