Apple reschedules Q2 2016 earnings conference call to April 26 [u]

AppleInsider

In an update to its website on Wednesday, Apple quietly pushed back its quarterly earnings conference call for the second quarter of 2016 by one day to Tuesday, April 26.

The change was relayed through Apple's investor webpage and was not accompanied by an official announcement. Why the company delayed the event, initially slated for April 25, is unclear. Some have suggested the event conflicted with funeral services for the late Bill Campbell, though such rumors have yet to be confirmed.

Aside from the change in date, Apple is expected to handle the current quarter's earnings as usual, meaning CEO Tim Cook and CFO Luca Maestri will likely be on hand to walk investors through the three-month period ending in March.

The upcoming call is one of the most important in recent memory, as investors await news of what is anticipated to be the first year-over-year iPhone sales decline since the popular smartphone launched in 2007. During Apple's last quarterly call in January, Cook said that on top of traditional sequential post-holiday declines, iPhone faces a tough compare to the first quarter 2015. Last year, iPhone 6 sales were unseasonably strong thanks to constrained channel supply in fall 2014.

"We do think that iPhone units will decline in the quarter," Cook said. "We aren't projecting beyond the quarter as Luca mentioned earlier, but at this point in time, we see that Q2 is the toughest compare."

Apple reported a record-breaking quarter in January with $75.9 billion in revenue helped in large part by 74.8 million iPhone sales.

A live stream of the forthcoming quarterly conference call is being hosted on Apple's website and is scheduled to kick off on Tuesday, April 26 at 2 p.m. Pacific, 5 p.m. Eastern. AppleInsider will also offer live coverage of the event.

Update: An Apple spokesperson confirmed to Re/code that the earnings call was rescheduled out of respect for friends and family of former board member Bill Campbell, who passed away earlier this week. Company executives will attend a memorial service on Monday.

rogifan_new

They moved it because it conflicted with the memorial service for Bill Campbell.

fallenjt

Stocks will drop after. Sell now!

ericthehalfbee

rogifan_new said:

They moved it because it conflicted with the memorial service for Bill Campbell.

Exactly what I thought it was for. But I'm sure some will claim it's to delay some terribly bad news about their results.

bobschlob

Is this a delay of the release of the "earnings statement", or just the earnings release conference call?

levi

This is exactly GT Advanced (Apple's supposed sapphire supplier) did right before they announced bankruptcy. The Apple were right all along - i.e. Apple is doomed. Jk - long Apple 

foggyhill

I thought that was the original date?

anantksundaram

Notwithstanding the fact that the memorial service is a good reason, do companies so this sort of thing very often?

It does seem a little unusual to me. 

jungmark

anantksundaram said:

Notwithstanding the fact that the memorial service is a good reason, do companies so this sort of thing very often?

It does seem a little unusual to me. 

Well Campbell was kind of a big deal/influence to Silicon Valley, Apple, and Jobs. 

foad

jungmark said:

anantksundaram said:

Notwithstanding the fact that the memorial service is a good reason, do companies so this sort of thing very often?

It does seem a little unusual to me. 

Well Campbell was kind of a big deal/influence to Silicon Valley, Apple, and Jobs. 

And a long sitting board member at Apple. It is rare but he was, as you stated, a huge influence at Apple and to Jobs. 

anantksundaram

jungmark said:

anantksundaram said:

Notwithstanding the fact that the memorial service is a good reason, do companies so this sort of thing very often?

It does seem a little unusual to me. 

Well Campbell was kind of a big deal/influence to Silicon Valley, Apple, and Jobs. 

I realize that, but that does not make it any less unusual. There surely have been passings of board members of other companies and in other industries that have had a similar outsized influence on those companies/industries, but I don't recall hearing of an earnings announcement being moved on account of such an event. 

Perhaps it's more common than I realize....

jungmark

anantksundaram said:

jungmark said:

Well Campbell was kind of a big deal/influence to Silicon Valley, Apple, and Jobs. 

I realize that, but that does not make it any less unusual. There surely have been passings of board members of other companies and in other industries that have had a similar outsized influence on those companies/industries, but I don't recall hearing of an earnings announcement being moved on account of such an event. 

Perhaps it's more common than I realize....

Well how many important leaders/board members have died around earning calls? I don't know if it's common or not. 

anantksundaram

jungmark said:

anantksundaram said:

I realize that, but that does not make it any less unusual. There surely have been passings of board members of other companies and in other industries that have had a similar outsized influence on those companies/industries, but I don't recall hearing of an earnings announcement being moved on account of such an event. 

Perhaps it's more common than I realize....

Well how many important leaders/board members have died around earning calls? I don't know if it's common or not. 

There are four earnings calls a year, thousands of companies, the average publicly traded company has ~10 board members (generally older people), and I am guessing every company must have one of two that -- for them -- fall into the Bill Campbell category. Therefore, across many years of such calls, I am sure it's not a rarity. Yet, I've never heard of something like an earnings call postponement before. 

512ke

It may be understandable but it's odd. 

mattinoz

512ke said:

It may be understandable but it's odd. 

It shouldn't be odd. People should always come ahead of business.

lkrupp

Unbelievable the crap that people come up with. Are Apple fans that paranoid, that insecure, that frightened? Are Apple fans buying into the Doomed™ scenario? A financial report is pushed back one day because of the death of an important board member who mentored the founder as well as many other Silicon Valley titans and it’s labeled unusual? Hand wringing? Conspiracy? Harbinger of Doom™? Now I know why some believe there are Tesla coils at the North Pole, Black U.N. helicopters hidden in the Midwest, Bush blew the levies in New Orleans, Building 7 was a controlled demolition, tin foil hats.

eideard

sog35 said:

If this hits near $100 after earnings its time to load up some more.

Shhh.

mike1

anantksundaram said:

jungmark said:

Well Campbell was kind of a big deal/influence to Silicon Valley, Apple, and Jobs. 

I realize that, but that does not make it any less unusual. There surely have been passings of board members of other companies and in other industries that have had a similar outsized influence on those companies/industries, but I don't recall hearing of an earnings announcement being moved on account of such an event. 

Perhaps it's more common than I realize....

It was postponed A DAY. Not a week or a month. Calls get postponed for lots of reasons including major weather events, illness and, in this case, a funeral.