What to Expect From Apple's Quarterly Earnings Report This Week

Apple will report its earnings results for the third quarter of its 2024 fiscal year on Thursday, August 1 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.

Apple iPad Air and iPad Pro 11 inch and 13 inch 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 March 31 through June 29, according to Apple's fiscal calendar. The following products launched during this period:

  • 11-inch iPad Pro with M4 chip
  • 13-inch iPad Pro with M4 chip
  • 11-inch iPad Air with M2 chip
  • 13-inch iPad Air with M2 chip
  • Apple Pencil Pro
  • Vision Pro pre-orders in eight additional countries

Revenue Expectations

Apple has not provided formal revenue guidance since before the COVID-19 pandemic, but the average Wall Street estimate for Apple's third quarter revenue is $84.5 billion, according to data compiled by Yahoo Finance. This would be around a 3% increase over the $81.8 billion revenue the company reported in the year-ago quarter.

This would be in line with the outlook that Apple's CFO provided on last quarter's earnings call:

We expect our June quarter total company revenue to grow low-single-digits year-over-year in spite of a foreign exchange headwind of about 2.5 percentage points.

Conference Call

Cook and Maestri will hold a conference call at 2:00 p.m. Pacific Time on Thursday to discuss the company's quarterly earnings results. The call should last around one hour, and it 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.

What's Next

Apple's current quarter runs through September 28, and the company has yet to announce any new products during this period.

AAPL is trading for around $223 as of writing, down from a 52-week high of $237.23.

Tags: AAPL, Earnings

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Top Rated Comments

AlexESP Avatar
10 months ago

Will be interesting to see if iPhone sales are still “plunging” as CNN put it in April. Down 10% last quarter. (I guess that could be considered a nose dive as far as Apple is concerned?)

https://amp.cnn.com/cnn/2024/04/15/tech/iphone-sales-plunging
Could be true, but I’m always very skeptical of sales rumors. Recall how last quarter all reports said iPhone sales had tanked in China, and in the end Apple reported they actually *increased*.
Score: 8 Votes (Like | Disagree)
DocMultimedia Avatar
10 months ago
I expect Apple made lots of money, and will say they plan to continue with more of the same.

I don't expect any surprise dividend bonuses to randomly get paid to shareholders. But I sure wouldn't mind. ?
Score: 4 Votes (Like | Disagree)
lkrupp Avatar
10 months ago

Perhaps too many rumors about iPhone 17 and 18, causing people to decide to wait for the new releases instead of buying now.
Again, only, exclusively on tech blog forums. The real world doesn’t even know about these rumored products. Tech blog forums have their own RDFs where Apple is a failed company with substandard products, no QA, and very unhappy customers. Tech blogs are fantasy environments filled with nonsense.
Score: 3 Votes (Like | Disagree)
mazz0 Avatar
10 months ago

Perhaps too many rumors about iPhone 17 and 18, causing people to decide to wait for the new releases instead of buying now.
I wouldn't even say it's about rumours. You don't need rumours to know there's an annual upgrade, and it's acknowledged fact that the upcoming OS update leans on machine learning, which is dependant on a part of the processor that's improving significantly year on year, so there's far more reason to wait for the upcoming chips this year than there has been for a long time, and that's just based on what we know, not on rumours.
Score: 2 Votes (Like | Disagree)
vegetassj4 Avatar
10 months ago
CUPERTINO, CALIFORNIA

Apple today released quarterly earnings, a major release that features more earnings options, the biggest redesign ever of earnings reporting, new ways for stockholders to manage their holdings, and so much more. Stockholders will be able to arrange dividends and buybacks in stock trading app on the Home Screen, customize buy and sell orders, and quickly access more shares in Control Center. Stock portfolios are automatically organized in a new single view in Stocks, and helpful new collections keep favorites easily accessible. Apple has revolutionized earnings reporting, so that you can get more out of earnings than ever before. You are going to love it.
Score: 2 Votes (Like | Disagree)
Amazing Iceman Avatar
10 months ago

In what way will it be different? Action button, colors, new chipset, more RAM??? For what I’ve read I’m wondering what a multibillion company has been doing a whole year…
What else are you expecting from a phone, besides better cameras, sensors, chipset, etc.?
A phone is a phone... no coffee maker feature for it.
Score: 2 Votes (Like | Disagree)