Apple to report fiscal Q2 2018 earnings on May 1

Posted:
in AAPL Investors edited April 2018
Apple will reveal quarterly earnings for its second fiscal quarter of 2018 on May 1, the company said on Monday, offering further insight on iPhone sales performance after what Wall Street called a lackluster holiday quarter.




Announced in an update to its Investor Relations webpage, the forthcoming report and following conference call will be held on Tuesday, May 1 at 2 p.m. Pacific, 5 p.m. Eastern. Apple CEO Tim Cook and CFO Luca Maestri are anticipated to provide detail on the March quarter's performance and field questions from investment analysts.

Apple posted a record-breaking $88.3 billion in revenue for the trailing quarter, though iPhone sales were down 1.2 percent year-over-year, prompting some on Wall Street to brand the three-month period as mediocre. Buoying the slowdown in handset shipments was the product's average selling price, which reached an all-time high of about $796.42 thanks to a mix of more expensive iPhone X models.

The company is looking to maintain sales of its flagship device after seeing the first signs of contraction in 2016.

Responding to concerns that iPhone X's high price tag is scaring away customers, Cook during last quarter's call said the flagship was Apple's bestselling iPhone every week since it shipped in November. Whether that remained true after the holiday shopping season remains to be seen.

Despite weaker than expected iPhone sales, Apple stock has performed relatively well, closing at a new high of $179.98 last month. Helping to drive that rally was Berkshire Hathaway's Warren Buffett, who at the end of February revealed an increase in AAPL stake, saying the Cupertino company's stock is the fund's largest holding.

Apple is forecasting revenue between $60 billion and $62 billion, with gross margins between 38 percent and 38.5 percent.

AppleInsider will offer full coverage of the earnings reveal on Tuesday, May 1, starting at 2 p.m. Pacific, 5 p.m. Eastern.

Comments

  • Reply 1 of 12
    Raise dividends by 15-20% and I'm happy.
  • Reply 2 of 12
    "...lackluster holiday quarter." "Apple posted a record-breaking $88.3 billion in revenue for the trailing quarter" Thank You.
    fastasleepracerhomie3entropysRonnnieOJFC_PApeterhartjozsefhorronn
  • Reply 3 of 12
    Lackluster? Please. The divvy deserves more than the usual 10% raise, but I'd be happy to hear some other plans for the massive cash pile.
    ramanpfaffJFC_PAjozsefhor
  • Reply 4 of 12
    FolioFolio Posts: 652member
    Yeah that hundred billion dollar plus question might generate more than usual interest.
  • Reply 5 of 12
    Anyone think apple will raise the dividend min by 50%?  

    Its possible,  with huge tax reduction and repatriation.  


  • Reply 6 of 12
    racerhomie3racerhomie3 Posts: 1,169member
    Apple still wins!
  • Reply 7 of 12
    macxpressmacxpress Posts: 5,001member
    Oh boy...time for the doom and gloom reports! Lets lower that stock price as much as possible! 
  • Reply 8 of 12
    nunzynunzy Posts: 662member
    It seems like the same thing every time. Gloom and doom from media, and then Apple beats all guidance.
  • Reply 9 of 12
    flydogflydog Posts: 354member
    Anyone think apple will raise the dividend min by 50%?  

    Its possible,  with huge tax reduction and repatriation.  


    Won’t happen.  
  • Reply 10 of 12
    foggyhillfoggyhill Posts: 4,767member
    flydog said:
    Anyone think apple will raise the dividend min by 50%?  

    Its possible,  with huge tax reduction and repatriation.  


    Won’t happen.  
    Got that right... Would be dumb as brick, especially because it's almost 100% sure a recession is coming within 2 years.
  • Reply 11 of 12
    jozsefhorjozsefhor Posts: 4unconfirmed, member
    If Apple’s holiday quarter was, as the lede of this post says, “lackluster," what would be the word to describe the low quality of said lede? I don’t think there is a word for that.

    This is in response to the original version of the verbiage. Now it is updated with Wall Street saying it was lackluster. 
    edited April 2018 radarthekat
  • Reply 12 of 12
    Updated with clarification as to the origin of “lackluster.”
    radarthekatcincyteecoolcatk2
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