Apple on Wednesday updated its investor relations page to announce that it will share its earnings for the first fiscal quarter (fourth calendar quarter) of 2019 on Tuesday, January 29 at 2:00 p.m. Pacific/5:00 p.m. Eastern time.
Apple’s conference call to discuss final first fiscal
quarter results is scheduled for Tuesday, January 29, 2019
at 2:00 p.m. PT / 5:00 p.m. ET.
Listen to the conference call webcast
Also on Wednesday, the Cupertino firm announced a rare earnings revision for the first fiscal quarter of 2019. In a “Letter from Tim Cook to Apple investors” Apple CEO Tim Cook said the company was now forecasting the following:
- Revenue of approximately $84 billion
- Gross margin of approximately 38 percent
- Operating expenses of approximately $8.7 billion
- Other income/(expense) of approximately $550 million
- Tax rate of approximately 16.5 percent before discrete items
The guidance Apple had previously offered back in November had been:
- Revenue between $89 billion and $93 billion
- Gross margin between 38 percent and 38.5 percent
- Operating expenses between $8.7 billion and $8.8 billion
- Other income/(expense) of $300 million
- Tax rate of approximately 16.5 percent before discrete items
Cook’s letter laid out several reason for the adjustment, including such factors as the timing of the 2018 iPhone launches, foreign exchange issues, struggles getting new products to market, and economic weaknesses in China and other countries. All of the above, Cook says resulted in “fewer iPhone upgrades than we had anticipated.”
