What to Expect From Apple's Earnings Report Tomorrow Following iPhone 15 Launch
Apple will report its earnings results for the fourth quarter of its 2023 fiscal year on Thursday, November 2 at 1:30 p.m. Pacific Time. Apple's CEO Tim Cook and CFO Luca Maestri will discuss the results on a conference call with analysts a half hour later.
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 ran from July 2 through September 30, according to Apple's fiscal calendar, and included the following product launches:
- iPhone 15, iPhone 15 Plus, iPhone 15 Pro, and iPhone 15 Pro Max
- Apple Watch Series 9 and Apple Watch Ultra 2
- AirPods Pro with USB-C charging case and EarPods with USB-C connector
Apple has not provided formal revenue guidance since the start of the COVID-19 pandemic, but Wall Street expects the company to report revenue of $89.28 billion in the fourth quarter, according to CNBC. This would be around a 1% decline compared to the $90.15 billion revenue the company reported in the year-ago quarter.
Maestri provided the following commentary on Apple's earnings call last quarter:
We expect our September quarter year-over-year revenue performance to be similar to the June quarter, assuming that the macroeconomic outlook doesn't worsen from what we are projecting today for the current quarter.
Cook and Maestri will hold a conference call at 2:00 p.m. Pacific Time on Thursday to discuss the company's fourth 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.
Apple's first quarter of fiscal 2024 began October 1 and runs through December 30. So far during this period, new products announced by Apple include a lower-priced Apple Pencil with a USB-C port, an updated iMac with the M3 chip, and updated 14-inch and 16-inch MacBook Pro models with M3, M3 Pro, and M3 Max chips.
AAPL closed at $173.97 today, down from a 52-week high of $198.23.