Apple to Announce Q1 2023 Earnings on February 2
Apple today updated its investor relations page to announce that earnings for the first fiscal quarter of 2023 (fourth calendar quarter) will be shared on Thursday, February 2.
The first quarter earnings call will provide some insight into holiday sales of the iPhone 14 models, the Apple Watch Series 8 and Ultra, new iPad models, and the AirPods Pro 2. iPhone sales were constrained during the quarter because of issues with supply. Apple in November sent out a press release warning about COVID-19 impacts on iPhone 14 Pro and Pro Max shipments, letting customers know to expect longer than normal wait times.
Last week, Apple shares hit an 18-month low due to the ongoing iPhone shipment issues and a broader downturn in the stock market, and Apple's inability to meet demand during the holiday quarter will likely have a notable impact on sales.
Apple did not provide guidance on the first quarter of 2023, but in the first quarter of 2022, the company reported revenue of $123.9 billion and net quarterly profit of $34.6 billion.
The quarterly earnings statement will be released at 1:30 PM Pacific/4:30 PM Eastern, with a conference call to discuss the report taking place at 2:00 PM Pacific/5:00 PM Eastern. MacRumors will provide coverage of both the earnings release and conference call on February 2.
Top Rated Comments
This earnings release may seem later than usual because this Q1 ended later than they usually do. Most of Apple's fiscal quarters are 13 weeks long, so they don't end on a particular day of a month. They always end on a Saturday. Apple's first fiscal quarter can end on any day between December 25th and December 31st. Last year Apple's Q1 ended on December 25th. This year it will end on December 31st, hence the later reporting date. And, btw, this first fiscal quarter was one of the unusual 14-week quarters because the calendar year ended on a Saturday.