Apple has announced their quarterly earnings report for the fiscal third quarter of 2016 will be released on Tuesday, July 26. The announcement will be followed at 2:00PM Pacific by an investors conference call.
While not specifically mentioned in the announcement, Apple CEO Tim Cook and CFO Luca Maestri usually participate on the call, making opening comments about the quarter, and then fielding questions from reporters on the conference call.
Apple was faced with its first ever year-over-year drop in iPhone sales last quarter, as it saw handset revenue drop 18% in the three-month period that ended in March. The drop in iPhone sales, along with disappointing Mac and iPad sales, saw total company revenue drop by around 13%.
Apple guidance for the coming quarter is for between $41 billion and $43 billion in revenue and a gross margin between 37.5% and 38%, which would be well below the results for a year ago. Operating expenses are expected to come in somewhere between $6 billion and $6.1 billion.
As is usual, MacTrast will cover the financial report, as well as the conference call. The call will take place on Thursday, July 26, starting at 2:00PM Pacific, 5:00PM Eastern time. Be there.
