iPhone and iPad maker Apple (NASDAQ:AAPL) will be announcing earnings results this Thursday after market close. Here’s what investors should know.
Apple beat analysts’ revenue expectations by 0.8% last quarter, reporting revenues of $102.5 billion, up 7.9% year on year. It was a strong quarter for the company, with We were also happy its revenue narrowly outperformed Wall Street’s estimates and a narrow beat of analysts’ revenue estimates.
Is Apple a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, analysts are expecting Apple’s revenue to grow 11.1% year on year to $138.1 billion, improving from the 4% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $2.67 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Apple has only missed Wall Street’s revenue estimates once over the last two years, exceeding top-line expectations by 1.3% on average.
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