Apple to reveal fiscal Q2 earnings on April 30

Posted:
in AAPL Investors edited April 2020
Apple on Tuesday announced plans to reveal quarterly earnings for the company's second fiscal quarter of 2020 on April 30, with CEO Tim Cook and CFO Luca Maestri expected to join analysts on a conference call after markets close.

Earnings


Announced in an update to Apple's Investor Relations webpage, the forthcoming call is scheduled for Thursday, April 30, at 2 p.m. Pacific, 5 p.m. Eastern.

As usual, Cook and Maestri are anticipated to deliver detailed segment financials for the three-month period ending in March, including a look at extended iPhone 11 and iPhone 11 Pro performance. More importantly, the executives will be able to shed more light on Apple's response to the COVID-19 pandemic, which largely spanned the quarter.

In February, as the full extent of the virus was beginning to materialize, Apple revised down quarterly estimates, saying constrained iPhone supply and lower-than-expected China demand would exert downward pressure on the company's earnings. Apple promised to provide more information on the coronavirus and its impact on the tech giant's core businesses in the upcoming call.

Apple pulled in a record $91.8 billion in the first quarter, beating both its own guidance and Wall Street expectations on strong iPhone 11 sales.

Prior to COVID-19, the company predicted revenue between $63.0 billion to $67.0 billion with a gross margin between 38% and 39%.

AppleInsider will offer full coverage of the earnings call on Thursday, April 30, starting at 2 p.m. Pacific, 5 p.m. Eastern.

Comments

  • Reply 1 of 9
    This will be the most interesting one in a long time. 
    chasm
  • Reply 2 of 9
    apple ][apple ][ Posts: 9,233member
    It doesn't seem that interesting to me.

    We know that earnings will be much lower than expected. Apple has already signaled that and we also know that the virus crap means bad earnings for just about every company out there, as much of the world has been shut down. Since Apple first signaled worse earnings, things have gotten even worse.

    This is obviously only a temporary thing. I don't think there's anything to learn or any insight to be gained from the current earnings.  

    I am more looking forward to the next earnings, so that things can get back on track again and the world can get back to business, once this virus crap is done with.


    edited April 2020 lkrupp
  • Reply 3 of 9
    mpantonempantone Posts: 1,530member
    The interesting part of the call will be forward guidance.

    We already know last quarter will come up short. They sent out a revenue warning.

    Right now, the most interesting aspect of their announcement is the day, a Thursday. That is highly unusual, Apple usually announces quarterly results on a Tuesday. Does this mean that Apple plans to make a product announcement on Tuesday the 28th? I know I am just speculating though...
    edited April 2020
  • Reply 4 of 9
    fastasleepfastasleep Posts: 5,287member
    apple ][ said:

    I am more looking forward to the next earnings, so that things can get back on track again and the world can get back to business, once this virus crap is done with.

    Not sure why you think this will be over in 3 months. 
    chasm
  • Reply 5 of 9
    apple ][apple ][ Posts: 9,233member
    apple ][ said:

    I am more looking forward to the next earnings, so that things can get back on track again and the world can get back to business, once this virus crap is done with.

    Not sure why you think this will be over in 3 months. 
    With all of the hysteria going on, no it probably won't be completely over in 3 months and it might be a couple more quarters before things return to normal.

    I hold out hope though, because I'd like to take a trip this summer. Eventually, things are going to have to get back to normal. We can't just shut down everything forever.


  • Reply 6 of 9
    fastasleepfastasleep Posts: 5,287member
    apple ][ said:
    apple ][ said:

    I am more looking forward to the next earnings, so that things can get back on track again and the world can get back to business, once this virus crap is done with.

    Not sure why you think this will be over in 3 months. 
    With all of the hysteria going on, no it probably won't be completely over in 3 months and it might be a couple more quarters before things return to normal.

    I hold out hope though, because I'd like to take a trip this summer. Eventually, things are going to have to get back to normal. We can't just shut down everything forever.
    No, not forever, but until we have a working vaccine or form of treatment, all we are doing is slowing the inevitable spread of a very contagious and dangerous virus so that we can minimize the death toll as much as possible.  The soonest we’ll see a vaccine is 18 months from now. The best shot we have at this point in time is extensive antibody testing to identify who has already had it and allowing those people to reintegrate. I believe I had it already back in Feb, but there’s no way to be certain without that test. Anyone who hasn’t had it is a potential vector. 
    edited April 2020
  • Reply 7 of 9
    avon b7avon b7 Posts: 5,689member
    apple ][ said:
    It doesn't seem that interesting to me.

    We know that earnings will be much lower than expected. Apple has already signaled that and we also know that the virus crap means bad earnings for just about every company out there, as much of the world has been shut down. Since Apple first signaled worse earnings, things have gotten even worse.

    This is obviously only a temporary thing. I don't think there's anything to learn or any insight to be gained from the current earnings.  

    I am more looking forward to the next earnings, so that things can get back on track again and the world can get back to business, once this virus crap is done with.


    Yes. Everybody is in the same boat here. We can expect everyone to be affected to an unusually high degree.

    These results (and any others from hardware manufacturers) will be of interest just to see how much impact lockdowns have had and (going forward) how much continuing impact they will have but not much should be read into them just yet.

    It could take a while for things to truly normalise.
  • Reply 8 of 9
    apple ][ said:
    apple ][ said:

    I am more looking forward to the next earnings, so that things can get back on track again and the world can get back to business, once this virus crap is done with.

    Not sure why you think this will be over in 3 months. 
    Eventually, things are going to have to get back to normal.

    When you say "normal", are you referring to the way we lived our lives before COVID-19 impact, say Dec-31-2019? I don't think we are going to return to "that" normal EVER. COVID-19 has already changed the human life FOREVER for BETTER, dare I say. We (humans) WON'T be allowed to mess up with nature as we please, like we have been doing for last few decades. Nature has shown the humans the place where we belong (graveyard) and we have to mend our ways going forward, failing which nature will show us the place where we belong again.


    In case you are wondering what I am talking about - I am from india. Few of the recent incidents are real eye openers.

    1. In Jalandar (about 220 kms from Himalayas), people are able to see the Himalayas after 25 years. They were unable to see it due to air pollution in the last 25 years and just about 10 days of lockdown has changed it.

    2. Yamuna river is running clean, which even the middle aged people do not remember seeing in their lifetime so far. Only old people have seen it before, many years ago.

    3. People in Delhi got "good air" to breathe in March/April months after a long long time (few years).

    avon b7chasm
  • Reply 9 of 9
    JayVeeJayVee Posts: 26member
    It will be interesting to see what Apple has done with regards to share buybacks during this quarter, and what they plan to do with buybacks and dividends next quarter.  On one hand there is uncertainty, but on the other hand the share price has fallen dramatically.  Has a significant hit to cash flow affected any of this, and if so, how much?
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