What to Expect From Apple's Earnings Results Following New Macs and HomePod

Apple will report its earnings results for the second quarter of its 2023 fiscal year on Thursday, May 4 at 1:30 p.m. Pacific Time. Apple's CEO Tim Cook and CFO Luca Maestri will discuss the results on a conference call for investors a half hour later.

M2 Mini MacBook Pros HomePod Unity Apple Watch Feature 1
Keep reading for some key things to know about the quarter, including a recap of new products announced, revenue expectations, and more.

New Products During Quarter

The quarter ran from January 1 through April 1, according to Apple's fiscal calendar, and included the following product launches:

Year-Over-Year Revenue Decline Expected

Apple has not provided guidance since the start of the COVID-19 pandemic, but analysts currently expect the company to report revenue of around $93 billion on average this quarter, according to Yahoo Finance. This would be a revenue decline of around 4.5% compared to the $97.3 billion the company reported in the year-ago quarter.

Maestri provided the following commentary on Apple's earnings call last quarter:

Given the continued uncertainty around the world in the near term, we are not providing revenue guidance, but we are sharing some directional insights based on the assumption that the macroeconomic outlook and COVID-related impacts to our business do not worsen from what we are projecting today for the current quarter. In total, we expect our March quarter year-over-year revenue performance to be similar to the December quarter.

Conference Call

Cook and Maestri will hold a conference call at 2:00 p.m. Pacific Time on May 4 to discuss the company's second quarter earnings results. The call should last around one hour and will include a Q&A segment with analysts.

A live audio stream of the conference call will be available on Apple's Investor Relations page, and a recording will be available later in the day for replay.

Investors will be listening for any potential commentary surrounding the economy as concerns persist about a recession in the U.S. and other countries.

What's Next

Apple's third quarter began April 2 and runs through July 1. Apple has yet to announce any new products during this quarter, but it did open its first retail stores in India and launch an Apple Card savings account in partnership with Goldman Sachs.

AAPL is currently trading at around $168, down around 4.5% from a 52-week high of $176.15.

Tags: Earnings, AAPL

Popular Stories

iOS 18 Mock iPhone 16 Feature Gray

Revealed: iOS 18 Works With These iPhone Models

Monday June 10, 2024 3:57 am PDT by
iOS 18 will be compatible with the same iPhone models as iOS 17, according to a post on X today from a private account with a proven track record of sharing build numbers for upcoming iOS updates. iOS 18 will be compatible with the iPhone XR, and hence also the iPhone XS and iPhone XS Max models with the same A12 Bionic chip, but older iPhone models will miss out. Here is the full...
ios 18 tile summary

Apple Announces iOS 18 With New Customization Features, Redesigned Photos App, and More

Monday June 10, 2024 10:17 am PDT by
Apple today previewed iOS 18, the next major update to the operating system for the iPhone, with new customization features, a redesigned Photos app, and more. iOS 18 features new customization tools for the Home Screen. App icons now feature Dark Mode and users can tint them with a color to create a unique look. Apps can also now be placed anywhere on the Home Screen freely. The Control...
WWDC24 Live Coverage Article

WWDC 2024 Apple Event Live Keynote Coverage: iOS 18, Apple's AI Push, and More

Monday June 10, 2024 9:20 am PDT by
Apple's Worldwide Developers Conference (WWDC) starts today with the traditional keynote kicking things off at 10:00 a.m. Pacific Time. MacRumors is on hand for the event and we'll be sharing details and our thoughts throughout the day. We're expecting to see a number of software-related announcements with a focus on Apple's efforts to infuse AI throughout its operating systems and apps....
iOS 18 Siri Integrated Feature

Massive iPhone Upgrade Coming This Week But These Devices Will Miss Out

Sunday June 9, 2024 1:25 pm PDT by
Apple is planning a major AI overhaul in iOS 18, with a feature set it is referring to as "Apple Intelligence." However, these new features will not work on older iPhones, even if they do appear on the new operating system's device compatibility list. Apple's initial AI roadmap for iOS 18 is said to come in two parts: Basic AI features that will be processed on-device, and more advanced...
ios 18 button bulge

iOS 18 Adds Pop-Out Bezel Animation When Pressing iPhone Buttons

Tuesday June 11, 2024 10:40 am PDT by
iOS 18 includes a small but interesting change for the buttons on the iPhone, adding more of a visual element when changing volume, activating the Action button, or locking the screen. When you press an iPhone button in iOS 18, the display bezel bulges outward slightly. This feature is available for the volume buttons, Action button and the power button, and it will also likely be used for...
Next Gen CarPlay WWDC24 1

Apple Provides Updated Look at Next-Generation CarPlay at WWDC 2024

Monday June 10, 2024 7:11 pm PDT by
Apple today shared a few WWDC 2024 coding sessions related to its upcoming next-generation CarPlay system ahead of its launch later this year. The sessions include lots of updated next-generation CarPlay images, with one revealing new Vehicle, Media, and Climate apps in action for the first time. MacRumors previously discovered evidence of these apps in the iOS 17.4 beta. Next-generation...
iPad Air 5

New: iPadOS 18 Drops Support for These iPad Models

Monday June 10, 2024 4:16 am PDT by
iPadOS 18 will drop support for iPad models equipped with the A10X Fusion chip, according to a post on X today from a private account with a proven track record of sharing build numbers for upcoming iOS and iPadOS updates. In other words, iPadOS 18 will drop support for the 10.5-inch iPad Pro and the second-generation 12.9-inch iPad Pro. Support for the sixth-generation iPad, which uses the...

Top Rated Comments

ThomasJL Avatar
15 months ago

Apple will report its earnings results for the second quarter of its 2023 fiscal year on Thursday, May 4 ('https://www.macrumors.com/2023/04/04/apple-q2-2023-earnings-may-4/') at 1:30 p.m. Pacific Time. Apple's CEO Tim Cook and CFO Luca Maestri will discuss the results on a conference call for investors a half hour later.
This must be Tim Cook's favorite event of the year because it has nothing to do with products and everything to do with money.
Score: 16 Votes (Like | Disagree)
TheYayAreaLiving ?️ Avatar
15 months ago

Do we need innovation to keep the profit growing?, or just new colors, new buttons and new islands?
We just need one thing.

Courage
Score: 12 Votes (Like | Disagree)
vegetassj4 Avatar
15 months ago
Tim Cook getting ready for the earnings call: Who put this thing together? Me, that's who...



Attachment Image
Score: 8 Votes (Like | Disagree)
nutmac Avatar
15 months ago

Do we need innovation to keep the profit growing?, or just new colors, new buttons and new islands?
The answer is obvious. More yellow!

Score: 7 Votes (Like | Disagree)
compwiz1202 Avatar
15 months ago

Do we need innovation to keep the profit growing?, or just new colors, new buttons and new islands?
They need whatever the consumers will keep laying down the money for
Score: 7 Votes (Like | Disagree)
RalfTheDog Avatar
15 months ago

We just need one thing.

Courage
A bit of creativity would be nice too.
Score: 6 Votes (Like | Disagree)