Date: Tuesday, September 27th, 2016, 05:47
Category: Finance, News
Apple on Monday noted that it would hold its fourth quarter earnings call on Thursday, October 27th. The call will be held at the standard time of 2PM PT/5PM ET, with the earnings release itself being sent out roughly thirty minutes before then.
The earnings call will be important in that it can show how the iPhone 7 and iPhone 7 Plus are doing as products. While Apple generally offers first weekend sales numbers for new iPhone models, the company said this year that it wouldn’t due to the supply contrasts surrounding the new devices. Many analysts, including KGI, expect that Apple will report slower iPhone 7 sales than it did iPhone 6s sales at this time last year, despite increased popularity of the iPhone 7 Plus and the Jet Black color.
Last quarter, Apple posted revenues of $42.4 billion on sales of 40.4 million iPhones, 9.9 million iPads, and 4.2 million Macs. Below is the guidance Apple provided for its 2016 fiscal fourth quarter:
This quarter, Apple is offering the following guidance:
– Revenue between $45.5 billion and $47.5 billion
– Gross margin between 37.5 percent and 38 percent
– Operating expenses between $6.05 billion and $6.15 billion
– Other income/(expense) of $350 million
– Tax rate of 25.5 percent
As always, stay tuned for full coverage of the conference call and please let us know what you think in the comments.