iPhone and iPad maker Apple (NASDAQ:AAPL) will be announcing earnings results tomorrow after the bell. Here’s what investors should know.
Apple beat analysts’ revenue expectations by 1.7% last quarter, reporting revenues of $85.78 billion, up 4.9% year on year. It was a strong quarter for the company: Apple beat across the board, with revenue, operating income, and EPS coming in ahead of Wall Street analysts’ estimates. iPhone revenue and Services revenue, two areas that receive outsized attention from the market because of their outsized impacts on the consolidated business, outperformed expectations.
Is Apple a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Apple’s revenue to grow 5.5% year on year to $94.4 billion, improving from its flat revenue in the same quarter last year. Adjusted earnings are expected to come in at $1.60 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Apple has missed Wall Street’s revenue estimates twice over the last two years.
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