Apple to reveal fiscal Q3 2016 earnings on July 26

in AAPL Investors edited June 2016
Apple on Monday announced plans to release a quarterly earnings report for the third fiscal quarter of 2016 on July 26, which is to be detailed in a following investors conference call.

Apple posted scheduling details of the coming call to its Investor Relations webpage earlier today, with the company saying the usual live stream kicks off on Thursday, July 26 at 2 p.m. Pacific. While not mentioned in the announcement, CEO Tim Cook and CFO Luca Maestri are expected to attend.

Apple suffered its first ever year-over-year contraction in iPhone sales last quarter, ending a streak of record breaking periods dating back to the smartphone's launch in 2007. Handset revenue was down 18 percent for the three-month period ending in March, a figure that combined with disappointing iPad and Mac shipments to drag down total company revenue by some 13 percent.

The slowdown was expected, however, as Apple faced especially tough compares against early 2015, which saw unusually high turnover due to pent up iPhone 6 demand. Other sectors, most notably iPad, have been in decline for months. Apple services like iTunes, the App Store, Apple Music, iCloud, and to a lesser extent Apple Pay and licensing, blunted the downturn.

For the coming quarter, Apple is guiding for between $41 billion and $43 billion in revenue and a gross margin between 37.5 percent and 38 percent, well below results for the same period last year. Operating expenses are projected to fall between $6 billion and $6.1 billion, in line with historical growth.

AppleInsider will be covering Apple's conference call for the third fiscal quarter of 2016 live on Thursday, July 26, starting at 2 p.m. Pacific, 5 p.m. Eastern.


  • Reply 1 of 12
    levilevi Posts: 344member
    I'm long Apple. That said, not looking forward to this call one bit. 
    douglas baileydavencanukstormlatifbpschlack
  • Reply 2 of 12
    lkrupplkrupp Posts: 10,557member
    Apple will be a penny stock by that time. I read this on the Internet.
  • Reply 3 of 12
    baconstangbaconstang Posts: 1,119member
    So they're only going to report about $8,000,000,000 in profit for the Q3?  Historically the worst quarter of the year I think.
    Possibly only about $90,000,000 profit a day?  Why do they even bother.   
    Maybe they should try drones.  It's working so well for Amazon.
  • Reply 4 of 12
    Hopefully, since iPhone SE used quite a few parts that had been around since iPhone 5, they will be making good margin out of that phone. And it seems to have taken most of two months for them to catch up to demand on the SE. I'm not saying it will be a stellar quarter but hopefully that helped somewhat.
  • Reply 5 of 12
    bobschlobbobschlob Posts: 1,074member
    OMG! OMG! OMG!
    MOMMY!!!   I'M SCARED!!!
  • Reply 6 of 12
    misamisa Posts: 827member
    levi said:
    I'm long Apple. That said, not looking forward to this call one bit. 
    Same. I'm not worried about the stock price tanking (it's only where it is right now due to Brexit fallout) and could easily have gone in the other direction. That's what happens when political disturbances impact a multinational company. It's stock gets hammered if it sells into any of those countries, because "uh oh, slowdown" or "uh oh affordability" I don't seriously think it will affect affordability. People want the iPhone because it's the iPhone. All the other devices out there are disposable and only very very recent high end Android devices even come within yelling distance of iPhone features and build quality. I've never heard of anyone switching from an iPhone except to appease their family who bought non-iPhones on some family deal so they can use whatever gee-whiz feature. My family is all like that, they all have prepaid android or feature phones.
  • Reply 7 of 12
    analogjackanalogjack Posts: 1,073member
    ... due to pent up iPhone 6 demand.

    I find that amusing, why? I do not know.
    edited June 2016
  • Reply 8 of 12

    Now begins the official short-the-stock session at Wall Street.

  • Reply 9 of 12
    latifbplatifbp Posts: 544member
    I bought two iPhone SE's via a promotion through TMo and a custom 2016 12" MacBook to replace my 2015 1.1Ghz 12" MacBook (which btw I sold for $800). I did my part. 
  • Reply 10 of 12
    croprcropr Posts: 1,129member
    misa said:

     I've never heard of anyone switching from an iPhone except to appease their family who bought non-iPhones on some family deal so they can use whatever gee-whiz feature.
    In Q1 2016 Android market share in the top 5 European countries grew 7% vs Q1 2015.  2.6% of  the 7% came from iPhone switchers, which is about 1 out 8 iPhone owners in these 5 countries.  I assume this not only because of family deals.
    edited June 2016
  • Reply 11 of 12
    TurboPGTTurboPGT Posts: 355member
    Imagine spending 6 billion less on operating expenses than the year ago quarter. In business we love our revenue, but nothing is sweeter than cutting costs.
    edited June 2016
  • Reply 12 of 12
    schlackschlack Posts: 721member
    Long on Apple, but also significant near term option exposure. Worried about this call. Laptop offerings are dated. Nothing qualitatively exciting about iPads. Off cycle for iPhone. Hope they pushed a ton of iPhone SE and services and promise something big for next quarter. OTOH, the stock is pretty much bottomed out at this point. P/E of <8 factoring in cash reserves. Don't see how it can go much lower while still generating massive profits and paying out a substantial dividend.
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