Apple will report its fiscal fourth quarter earnings results at 1:30PM Pacific time today and is expected to report a year-over-year decline in iPhone sales and revenue for a third consecutive quarter. This means the company will have posted its first full year revenue decline since 2001.
The revenue decline is widely expected to continue through the holiday quarter, with an expected return to revenue growth in 2017. Apple itself has predicted a fiscal Q4 2016 revenue of between $45.5 billion and $47.5 billion, which would be much lower than the $51.5 billion in revenue it posted in the same quarter one year ago.
Apple is providing the following guidance for its fiscal 2016 fourth quarter:
Analysts estimates show they expect revenue to come in at the high end of Apple’s guidance, around $47 billion. (Estimates aggregated by Philip Elmer-DeWitt and Jim Edwards.) Above Avalon’s Neil Cybart forecasts declining sales across Apple’s entire core product lineup, with 43.7 million iPhones, 9.1 million iPads, 5 million Macs, and 1.9 million Apple Watch units for the quarter.
One expected bright spot for the company is its services businesses, which is expected to show increased earnings on the strength of iCloud, AppleCare, Apple Music, and the App Store.
As usual, MacTrast will cover Apple’s fiscal Q4 2016 earnings report, as well as the conference call immediately following the earning release. The company should release their earnings report around 1:30PM Pacific time, 4:30PM Eastern. The conference call will begin at 2PM Pacific, 5PM Eastern.
(Via MacRumors)
