Apple to announce Q3 2017 financial returns on August 1st

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Date: Thursday, July 6th, 2017, 05:57
Category: Finance, News

If you want to know how Apple’s doing financially, check in on August 1st.

Apple on Wednesday announced that it will reveal quarterly earnings for the third fiscal quarter of 2017, traditionally the slowest sales period of the year for the company.

The upcoming earnings report is to be followed by a live-streamed conference call Tuesday, Aug. 1, at 2 p.m. Pacific, 5 p.m. Eastern. As usual, Apple CEO Tim Cook and CFO Luca Maestri are expected to provide commentary on the performance metrics and field questions from investment analysts.

Apple is said to be looking to return to year-over-year growth for the iPhone following a string of quarterly dips. The lucrative holiday shopping season saw iPhone sales return to growth at the end of 2016, but the progress was short lived as sales slumped in the second quarter of 2017.

The company is also expected to announce income from other revenue streams, including Apple Music, iCloud, iTunes and the App Stores. Revenue from these areas has steadily grown over the past year and was up 18 percent during the second fiscal quarter of 2017.

Apple is guiding for revenue between $43.5 billion and $45.5 billion with a gross margin between 37.5 percent and 38.5 percent for the third fiscal quarter of 2017. Operating expenses are expected to come in between $6.6 billion and $6.7 billion. If Apple manages to reach those estimates, it will outperform on a year-over-year basis.

Stay tuned for additional details as they become available.

Via AppleInsider and Apple Investor Relations

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