Apple to reveal Q3 2018 earnings on July 31

Posted:
in AAPL Investors edited July 2018
Apple is scheduled to report quarterly earnings for the third quarter of 2018 at the end of trading on July 31, while an ensuing investors conference call will provide details of the three-month period.

Apple Earnings


Announced in an update to its Investor Relations webpage, Apple's third quarter conference call is slated for Tuesday, July 31 at 2 p.m. Pacific, 5 p.m. Eastern.

As usual, CEO Tim Cook and CFO Luca Maestri are expected to detail segment performance over the June quarter and and field questions from investment analysts.

Apple reported its best March quarter ever earlier this year, raking in $61.1B in revenue on the back of 52.2 million iPhone sales and strong services growth. Notably, premium iPhone X handset sales drove iPhone's average selling price to $728.30, a market increase from $655 in the second quarter of 2017.

"Customers chose iPhone X more than any other iPhone each week in the March quarter, just as they did following its launch in the December quarter," Cook said during last quarter's conference call.

Whether Apple's top-end phone held the top spot over the third quarter is unknown, but investors are keen to learn of the handset's performance amid a global slowdown in smartphone sales. Previous reports leading up to the March quarter reveal claimed iPhone X was a flop.

Recent industry forecasts show positive growth for Apple's handset, with continued sales to new adopters and upgraders. Interestingly, research suggests Android switchers still account for a major chunk -- as much as 20 percent -- of quarterly shipments.

Beyond hardware, Apple's services business, which includes AppleCare, Apple Music, Apple Pay, iTunes and the App Store, and licensing, continues to exceed expectations. Last quarter, the company's services arm grew revenue by 31 percent on a year-over-year basis, reaching $9.19 billion.

For the current quarter, Apple is forecasting revenue between $51.5 billion and $53.5 billion, with a gross margin of between 38 percent and 38.5 percent.

AppleInsider will offer full coverage of the earnings reveal on Tuesday, July 31, starting at 2 p.m. Pacific, 5 p.m. Eastern.

Comments

  • Reply 1 of 7
    DCJ0001DCJ0001 Posts: 58member
    "Apple is scheduled to report quarterly earnings for the third quarter of 2018"

    Actually, 
    Apple is scheduled to report quarterly earnings for its fiscal third quarter.
    SpamSandwichRayz2016smalm
  • Reply 2 of 7
    entropysentropys Posts: 1,887member
    So, that might mean there will be no announcement of new macs until August.
  • Reply 3 of 7
    flydogflydog Posts: 353member
    DCJ0001 said:
    "Apple is scheduled to report quarterly earnings for the third quarter of 2018"

    Actually, Apple is scheduled to report quarterly earnings for its fiscal third quarter.
    You must be a blast at parties. 
  • Reply 4 of 7
    SpamSandwichSpamSandwich Posts: 31,490member
    flydog said:
    DCJ0001 said:
    "Apple is scheduled to report quarterly earnings for the third quarter of 2018"

    Actually, Apple is scheduled to report quarterly earnings for its fiscal third quarter.
    You must be a blast at parties. 
    What’s with the personal attack? Their comment was accurate.
    muthuk_vanalingam
  • Reply 5 of 7
    JayVeeJayVee Posts: 23member
    entropys said:
    So, that might mean there will be no announcement of new macs until August.
    I may be wrong, but I don’t think Apple tends to release products in August, so I’m assuming they’ll get pushed back (unfortunately) to end October or so. I feel that they’ll want to keep September dedicated to the iPhone release.

    That being said, I really hope to be wrong, as my iMac is due for an update!
  • Reply 6 of 7
    JayVeeJayVee Posts: 23member
    Looking forward to seeing whether Nikkei or some other analysts bring up their concerns about production problems for the upcoming iPhones conveniently during the two week quiet period before earnings, and watching the stock drop roughly 5-10% by the end of the month...
  • Reply 7 of 7
    78Bandit78Bandit Posts: 235member
    flydog said:
    DCJ0001 said:
    "Apple is scheduled to report quarterly earnings for the third quarter of 2018"

    Actually, Apple is scheduled to report quarterly earnings for its fiscal third quarter.
    You must be a blast at parties. 
    What’s with the personal attack? Their comment was accurate.
    Accurate but pedantic.  Even Apple's announcement says "Apple Financial Results - Q3 2018".

    Financial results are always on a fiscal year basis, it just happens that most companies elect to use a calendar year for their fiscal year.  When communicating with financially literate people (which is who this report is targeting) you don't need to say "Fiscal Quarter" every time because it is assumed they have enough knowledge about the company to know when their accounting year starts and ends and "quarters" are based on the company's year, not the calendar.
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