As a reminder for anyone who may have missed the announcement during the holidays, Apple revealed that it will share its earnings results for the first quarter of its 2020 fiscal year on Tuesday, January 28.
The financial report should be released at 1:30 p.m. Pacific Time on that day as usual, followed by a conference call with Apple CEO Tim Cook and Apple CFO Luca Maestri at 2:00 p.m. Pacific Time that will be streamed live on Apple's website. Cook and Maestri will discuss the results and field questions from analysts.
Apple's guidance for the quarter, which ran September 29 through December 28 of 2019:
- revenue between $85.5 billion and $89.5 billion
- gross margin between 37.5 percent and 38.5 percent
- operating expenses between $9.6 billion and $9.8 billion
- other income/(expense) of $200 million
- tax rate of approximately 16.5 percent
By comparison, Apple brought in revenue of $84.3 billion in Q1 2019, despite issuing a rare earnings warning due to declining iPhone sales at the time. The company's all-time quarterly revenue record is $88 billion in Q1 2018.
Apple's earnings results will provide some insight into how well the latest iPhone 11, iPhone 11 Pro, and iPhone 11 Pro Max models sold during the holiday shopping season. The devices became available to purchase in stores on September 20 in many countries, nine days before the quarter began.
Apple's services and wearables categories have also been growing for several quarters, so investors will look to see if that trend continues.
(Thanks, Leonard!)
Top Rated Comments
I'm expecting over $90B and record EPS of course.