Date: Thursday, January 5th, 2017, 05:19
Category: Finance, iPhone, News, retail
Come January 31st, you’ll find out how profitable Apple’s last three months have been.
The company announced that come January 31st, it will announce its quarterly earnings for the first fiscal quarter of 2017, revealing performance metrics for the new iPhone 7 series and the lucrative holiday shopping season.
Announced through the company’s Investor Relations webpage, the upcoming results will be followed by a conference call live stream is set to take place on Tuesday, Jan. 31 at 2 p.m. Pacific, 5 p.m. Eastern. Apple CEO Tim Cook and CFO Luca Maestri are expected to attend the conference call.
Apple is looking to beat Wall Street’s expectations via iPhone 7 sales and a growing service business. During the most recent quarter, Apple posted $9 billion in net income on revenues of $46.9 billion, a large portion of which was generated by 45.5 million iPhone sales.
Apple is slowly rebuilding from its first ever iPhone sales contraction which accompanied a dismal second fiscal quarter last year. In the ensuing months, Apple leaned on revenues from its services sector, which includes Apple Music, iCloud, iTunes and the various App Stores, as well as unexpectedly strong demand for the 4-inch iPhone SE. Interestingly, iPad helped make up for a portion of lost iPhone growth after suffering a slow decay over the past couple years.
The company is currently guiding for all-time record revenues between $76 billion and $78 billion with a gross margin between 38 percent and 38.5 percent for the first quarter of 2017. Operating expenses are expected to fall between $6.9 billion and $7 billion, with other income of $400 million. The company expects a tax rate of 26 percent.
Stay tuned on the 31st for the latest financial details as they become available.