Apple set to report fiscal Q3 earnings with analysts focusing on upgrade program impact
Apple will release its fiscal third-quarter results, with consensus forecasts showing earnings per share of $1.88 and revenue of $108.8 billion, while investors look for guidance on the new Apple Upgrade program.
Apple is scheduled to announce its fiscal third-quarter earnings for the period ending June, followed by a question-and-answer session with analysts. The company briefly reached a $5 trillion market valuation earlier this year before slipping slightly.
The earnings call will be the last with Tim Cook as chief executive. Analysts expect results to align with the company’s April guidance of 14%-17% year-on-year revenue growth, and Zacks’ consensus forecast predicts earnings per share of $1.88 and revenue of $108.8 billion, reflecting 19.75% and 15.64% growth respectively.
Apple has surpassed consensus estimates in each of the prior four quarters, leading Zacks to assign a “hold” rating and Motley Fool to rate the stock as a “buy,” though average target prices remain largely unchanged.
"Investors will be very keen to hear Apple’s expectations for the impact of the new Apple Upgrade program," analysts noted.
The upgrade program, which allows customers to finance purchases on a monthly basis, is expected to influence sales dynamics, and the company’s outlook on its effect will be a focal point for market reaction.