Apple to reveal fiscal Q2 2017 earnings on May 2

Posted:
in AAPL Investors edited April 3
Apple on Monday announced plans to report quarterly earnings for the second fiscal quarter of 2017 on May 2, a key period that follows the company's record-breaking 2016 holiday quarter.




Announced through Apple's Investor Relations webpage, the upcoming earnings report will be followed by an conference call set to stream online on Tuesday, May 2, at 2 p.m. Pacific, 5 p.m. Eastern. As usual, Apple CEO Tim Cook and CFO Luca Maestri will likely take part in the call, offering color on metrics and answering questions from market analysts.

Apple is looking to maintain iPhone sales growth levels in the second quarter following a booming first fiscal quarter. The lucrative holiday shopping season and September launch of iPhone 7 helped push iPhone sales to 78.3 million units in the December quarter, fueling $78.4 billion in revenue. Both figures set all-time quarterly records.

The company reached its peak after a first ever iPhone sales contraction in the second quarter of 2016, often the slowest three-month period of the year. Revenues from Apple's services arm, which includes Apple Music, iCloud, iTunes and the various App Stores, helped buoy income during the iPhone sales slowdown, as did unexpectedly strong demand for the 4-inch iPhone SE.

After its return to iPhone growth, Apple stock has seen a steady upward trend over the past few weeks. Following a series of all-time highs, AAPL shares most recently hit $143.80 last week, sitting a little over three dollars shy of a market capitalization record set in 2015.

For the second quarter of 2017, Apple is guiding for revenues between between $51.5 billion and $53.5 billion and gross margin between 38 and 39 percent.

AppleInsider will be covering Apple's conference call for the first fiscal quarter of 2017 live on Tuesday, May 2, starting at 2 p.m. Pacific, 5 p.m. Eastern.

Comments

  • Reply 1 of 8
    5150iii5150iii Posts: 81member
    Looking forward to it!
  • Reply 2 of 8
    Apple will also update its capital return program. Sort of a big deal.
  • Reply 3 of 8
    retrogustoretrogusto Posts: 519member
    I don't remember them ever announcing their results this late before. I wonder why it's so late this time. 
  • Reply 4 of 8
    lkrupplkrupp Posts: 4,702member
    I don't remember them ever announcing their results this late before. I wonder why it's so late this time. 
    Because they are doomed and will be filing for Chapter 11 protection after the call. It’s obvious.
    MikeymikeaaronjRayz2016watto_cobra
  • Reply 5 of 8
    mpantonempantone Posts: 1,281member
    I don't remember them ever announcing their results this late before. I wonder why it's so late this time. 
    I think there are several factors at play here.

    Normally, Apple fiscal quarters are 13 weeks long. However, if Apple had chosen to keep Q1 FY2017 at 13 weeks, the quarter would have ended on Saturday December 24th, a weird date that doesn't account for the last week of the year during their busiest sales season. So Apple decided to make Q1 FY2017 fourteen weeks long to end on Saturday December 31st. That meant that Q2 started on Monday January 1st.

    However, this February only had 28 days, so the thirteen week fiscal quarter actually ended on Saturday April 1st. 
    anantksundaramtrashman69aaronjstevenoz
  • Reply 6 of 8
    lkrupp said:
    I don't remember them ever announcing their results this late before. I wonder why it's so late this time. 
    Because they are doomed and will be filing for Chapter 11 protection after the call. It’s obvious.
    Yes because they only sold 1M iPhones in the quarter, the Samsung S8 is the bees knees and flying off the shelves. and Apple's market percentage is now at 1% worldwide.
    Well, that's what a lot of people in the Googleplex world are forcasting. It is common to hear that the market percentage (for Apple) is tanking and well below 10%.

    In the words of the song, 'Something's gotta give'.

  • Reply 7 of 8
    radarthekatradarthekat Posts: 1,621moderator
    "After its return to iPhone growth, Apple stock has seen a steady upward trend over the past few weeks."

    Actually, it's been on an uptrend for 13 weeks.  Apple has closed each week higher than the previous week every week this year, averaging +$2.14 each week for 13 weeks in a row.
  • Reply 8 of 8
    sog35sog35 Posts: 12,367member
    "After its return to iPhone growth, Apple stock has seen a steady upward trend over the past few weeks."

    Actually, it's been on an uptrend for 13 weeks.  Apple has closed each week higher than the previous week every week this year, averaging +$2.14 each week for 13 weeks in a row.
    nice stat.

    $144.89 today.  

    Prediction at the beginning of the year was $150-$160
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