Apple on Tuesday announced it will share fiscal second quarter (first calendar quarter) 2020 earnings results on Thursday, April 30.
When the results are announced, we’ll find out for sure just how badly Apple product sales have suffered during the COVID-19 coronavirus pandemic. Apple’s stores outside of greater China have been closed since March 14, and are expected to remain closed at least until sometime in May. Apple’s stores inside of China were closed for several weeks in February.
In February, Apple told investors that it wouldn’t meet its revenue goals for the second fiscal quarter, due to pandemic-related manufacturing issues and store closings in China. Since then, the iPhone maker has closed all of its other stores around the globe. While Apple had originally expected to announce revenue of $63 to $67 billion in the March quarter, that number is expected to be much lower.
Apple’s quarterly earnings statement will be released at 1:30 p.m. Pacific/4:30 p.m. Eastern, with a conference call to discuss the report taking place at 2:00 p.m. Pacific/5:00 p.m. Eastern. MacTrast will provide coverage of the earnings announcement on April 30.