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Apple Reports Third-Quarter Earnings

Apple Reports Third-Quarter Earnings

Apple Reports Third-Quarter Earnings

On Thursday, July 28 at 1:30 p.m. Pacific Time, Apple will release its financial results for the third quarter of its fiscal year 2022. Then, shortly after the results are announced, Apple will hold a conference call to go over them.

For more information, including sales forecasts from analysts and other important details concerning Apple’s third quarter, continue reading.

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New Products

On the basis of its 2022 fiscal calendar, Apple’s third-quarter lasted from March 27 to June 25. It was only a new 13-inch MacBook Pro with the M2 chip that Apple released at this time. The M2 chip-equipped MacBook Air was another product that Apple revealed in June, but orders didn’t start coming in until after the quarter was over.

In addition, during the quarter, Apple announced two new Pride Edition bands for the Apple Watch as well as the company’s first power adapters featuring dual USB-C connections.

Revenue Slowdown

The third quarter sales for Apple are anticipated to be $82.6 billion, according to the average of 26 analyst projections from Yahoo Finance.

In the third quarter of 2021, Apple recorded revenue of $81.4 billion; therefore, $82.6 billion would represent a year-over-year increase of roughly 1.5 percent, which would be a substantial deceleration for Apple. In contrast, Apple’s revenue climbed 36 percent year over year between the third quarters of 2020 and 2021. This is because more people chose to work and learn from home due to the COVID-19 epidemic, which significantly raised the demand for Apple goods and services.

Conference Call

At 2:00 p.m. Pacific Time on Thursday, July 28, Apple’s CEO Tim Cook and CFO Luca Maestri will have a conference call to go through the company’s third-quarter earnings results. An analyst Q&A period will be included in the call, which should last about an hour.

Apple’s Investor Relations page will host a live audio webcast of the conference call, and a recording will be made available for replay later on.

Investors will be waiting for any potential remark on the economy as worries grow over decreased consumer spending amid high inflation, the ongoing COVID-19 outbreak, the Russia-Ukraine war, and other reasons. Amid rising economic unpredictability, Apple is reportedly planning to cut back on recruiting and spending on some teams in 2023.

What’s Next

Beginning on June 26 and ending on September 24, Apple’s fourth quarter is in effect. Orders for the new MacBook Air with the M2 chip have already begun, and pre-orders for the iPhone 14 are also expected to begin during this quarter, at least for a few days.

Since the COVID-19 epidemic began, Apple has not offered revenue guidance; nonetheless, slower sales growth is anticipated to persist.

From a 52-week high of $182.94, the price of Apple shares is at $152, a decrease of over 17%.

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