Apple to Report Second Quarter Earnings Today

Analysts forecast the tech giant will beat expectations with strong iPhone sales


White iPhone 6 Plus

(Image: File)

Apple is set to release its quarterly report on today, April 27, at 2 p.m. PDT—after markets have closed for the day—and tech’s biggest company is expected to have performed well.

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According to the Wall Street Journal, analysts predicts earnings forecasts for the Cupertino, Calif.-based company to be up $2.16 a share compared to the split-adjusted $1.66 last year. And revenues of $56.1 billion have been forecasted by analysts—versus the $45.6 billion reported a year prior—though Apple has anticipated $52 billion to $55 billion.

Forbes reports that Apple’s stock has been trading in the $123-$130-per-share range over the past month, and is up about 18% since the beginning of 2015. Additionally, analysts have raised their predictions for iPhone sales and revenues going into Monday’s report.

That could be because Apple’s most profitable quarter (and the most profitable for any company ever) came last year, when it was reported that 74.5 million iPhones had been sold, in thanks to the launch of the bigger screens found on the iPhone 6 and iPhone 6s. A Fortune magazine poll of analysts speculates that 56.8 million iPhones have been sold during this quarter, which is 30% more than last year.

Though the Apple Watch began shipping this month, the company’s CEO, Tim Cook, could comment on sales of the Apple Watch, which is reportedly sold out until a new shipment goes out in June, according to the Wall Street Journal. This detail isn’t one that one analyst expects will hurt the stock price in the future.

“I don’t think it will hit the stock too hard. These estimates are really estimates to be absolute, there is no hard indication as to what actual sales will be,” CMC Markets analyst Jasper Lawler told CNBC.

Lawler also noted that sales for the popular Apple Watch could make up for declining number of Apple iPads moving off shelves. According to CNBC, the devices have had an 18% year-on-year drop in sales in the first quarter.

One Response to Apple to Report Second Quarter Earnings Today

  1. Pingback: Apple Second Quarter Earnings Beat Expectations

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