Apple will report its earnings results for the first quarter of its 2023 fiscal year today at 1:30 p.m. Pacific Time. Here’s what we can expect to learn about the quarter, including revenue expectations.
As reported by Yahoo Finance, Apple is expected to report revenue of $121.2 billion for the quarter. This would be a 2% decline from $123.9 billion in the year-ago quarter and would be Apple’s first revenue decline since 2019.
In November, Apple issued a warning to investors about iPhone 14 Pro supply constraints:
COVID-19 restrictions have temporarily impacted the primary iPhone 14 Pro and iPhone 14 Pro Max assembly facility located in Zhengzhou, China. The facility is currently operating at significantly reduced capacity. As we have done throughout the COVID-19 pandemic, we are prioritizing the health and safety of the workers in our supply chain.
We continue to see strong demand for iPhone 14 Pro and iPhone 14 Pro Max models. However, we now expect lower iPhone 14 Pro and iPhone 14 Pro Max shipments than we previously anticipated and customers will experience longer wait times to receive their new products.
We are working closely with our supplier to return to normal production levels while ensuring the health and safety of every worker.
During Apple’s first quarter (September 25 through December 31), the Cupertino firm released a small number of new products, including updated iPad and Apple TV models:
- 11-inch iPad Pro (4th generation) and 12.9-inch iPad Pro (6th generation)
- iPad (10th generation)
- Apple TV 4K (3rd generation)
- iPhone 14 Plus
Apple’s CEO Tim Cook and CFO Luca Maestri will hold a conference call at 2:00 p.m. Pacific Time tomorrow to discuss the company’s fiscal first-quarter earnings results. The pair will answer questions from industry analysts.
