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What to Expect From Apple's Earnings Report This Week Following Vision Pro Launch

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Apple will report its earnings results for the second quarter of its 2024 fiscal year on Thursday, May 2 at 1:30 p.m. Pacific Time. Apple's CEO Tim Cook and CFO Luca Maestri will discuss the results on a conference call with analysts a half hour later.

Apple-Vision-Pro-with-battery-Feature-Blue-Magenta.jpg

Keep reading for some key things to know about the quarter, including a recap of new products announced, revenue expectations, and more.

New Products During Quarter

The quarter ran from December 31, 2023 through March 30, 2024, according to Apple's fiscal calendar. The following products launched during this period:
  • Apple Vision Pro
  • 13-inch MacBook Air with M3 chip
  • 15-inch MacBook Air with M3 chip
Revenue Expectations

Apple has not provided formal revenue guidance since before the COVID-19 pandemic, but the average Wall Street estimate for Apple's second quarter revenue is $90 billion, according to Zacks Investment Research. This would be around a 5% decline compared to the $94.8 billion revenue the company reported in the year-ago quarter.

Maestri provided the following commentary on Apple's earnings call last quarter:
As a reminder, in the December quarter a year ago, we faced significant supply constraints on the iPhone 14 Pro and 14 Pro Max due to COVID-19 factory shutdowns. And in the March quarter a year ago, we were able to replenish channel inventory and fulfill significant pent-up demand from the constraints. We estimate that this impact added close to $5 billion to the March quarter's total revenue last year. When we remove this impact from last year's revenue, we expect both our March quarter total company revenue and iPhone revenue to be similar to a year ago.
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Conference Call

Cook and Maestri will hold a conference call at 2:00 p.m. Pacific Time on Thursday to discuss the company's quarterly earnings results. The call should last around one hour, and it will include a Q&A segment with analysts.

A live audio stream of the conference call will be available on Apple's Investor Relations page, and a recording will be available later in the day for replay.

What's Next

Apple's current quarter runs through June 29. Apple has yet to announce any new products during the quarter, but it is expected to unveil new versions of the iPad Pro, iPad Air, Apple Pencil, and Magic Keyboard at its "Let Loose" event on May 7.

AAPL is trading above $172 as of writing, down from a 52-week high of $199.62.

Article Link: What to Expect From Apple's Earnings Report This Week Following Vision Pro Launch
 
Article Link
https://www.macrumors.com/2024/04/30/apple-q2-2024-earnings-preview/
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nuff_said

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Sep 23, 2021
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My guess is another profitable quarter for them thanks to subscriptions/services and growth in some of their categories. No actual numbers on how many AVPs they sold.
Vague details around DMA legislations for the EU, roadmap chatter about growth in China, and chat about how AVP exceeded expectations and more to come with as we look to launch in X number of markets.
 
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Unregistered 4U

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They’re going to say, “DUDE! That leaker has us DEAD TO RIGHTS! We totally meant to sell 800,000 of something we only had parts for 400,000 of! And we’re totally not having an event for the iPad.” Everyone will have a little chuckle, then they’ll get down to bweeeznis.

Or

“Ready to spring ahead into something incredible? Join us online May 7th for a special Apple Event at 7 a.m. Pacific time. We'll keep you up to date with all the latest announcements right here on Apple Podcasts.”
 
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vipergts2207

vipergts2207

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Unregistered 4U said:
They’re going to say, “DUDE! That leaker has us DEAD TO RIGHTS! We totally meant to sell 800,000 of something we only had parts for 400,000 of! And we’re totally not having an event for the iPad.” Everyone will have a little chuckle, then they’ll get down to bweeeznis.
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Because production of those parts only started on January 1st of course.

🙄

That would be supply chain malpractice by the current CEO who used to be COO.
 
Dulcimer

Dulcimer

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Nov 20, 2012
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nuff_said said:
My guess is another profitable quarter for them thanks to subscriptions/services and growth in some of their categories. No actual numbers on how many AVPs they sold.
Vague details around DMA legislations for the EU, roadmap chatter about growth in China, and chat about how AVP exceeded expectations and more to come with as we look to launch in X number of markets.
Click to expand...
We have an oracle lurking these forums… Say, can you tell us when Apple will dump the entire AVP project?
 
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vipergts2207

vipergts2207

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TruthAboveAllElse said:
What? I don’t understand what you mean. Do you know that comment you replied to is a joke?
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Their comment is a joke making fun of folks like Kuo who estimated that Apple could sell up to 800k AVPs this year. However the joke only works if you believe Apple could only make 400k of them this year, which itself requires not understanding that production of parts needed for the AVP would almost certainly have started last year. I think perhaps you don’t understand their post.
 
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nuff_said

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Sep 23, 2021
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Dulcimer said:
We have an oracle lurking these forums… Say, can you tell us when Apple will dump the entire AVP project?
Click to expand...
I don’t think it will be dumped as long as Cook sits on the throne because it’s linked to his Apple legacy. It’s really the only product (besides subscriptions) released under his tenure. I don’t count the Apple Watch as fully his vision under his watch.

Cook’s been CEO for almost 15 years so he’s getting close to stepping down. Why? That’s a long time to run a company but he’s also in his 60s. Speculation has it that Greg Joswiak, Jeff Williams, or “his hairness” Craig Federighi could be next in line. Perhaps 2-3 years after a new CEO?
 
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steve09090

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Surf Monkey said:
Of course there’s no expectation that Apple will break out Vision sales as a separate line item. They’ll place it under “wearables” to package it with Apple Watch and the various AirPods. All the better to minimize the impact of a product that appears to have failed spectacularly.
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This is how people call something a failure with no idea on whether something is a failure. They hide their hatred of a product within the success of other products because they have no clue as why or if it is.
 
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Surf Monkey

Surf Monkey

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steve09090 said:
This is how people call something a failure with no idea on whether something is a failure. They hide their hatred of a product within the success of other products because they have no clue as why or if it is.
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You dislike my OPINION so you decided to attack me personally by accusing me of “hiding” my “hatred” of Vision, of having “no clue” and “no idea.”

It seems to me that you’re the party who became emotional about it. I stand by my assessment of the Vision. It has nothing to do with hate or ignorance and I’m not hiding anything. You don’t have to agree, but you don’t have to insult me personally to let me know that you don’t agree. Capeesh?
 
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svish

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Expecting it to be a good 2nd quarter for Apple. The upcoming iPad Pros should help the current quarter.
 
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Velli

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nuff_said said:
Speculation has it that Greg Joswiak, Jeff Williams, or “his hairness” Craig Federighi could be next in line.
Click to expand...
Anyone mentioning Craig as an option for CEO has no idea how corporations work, and should be disregarded as a source.

Jeff Williams has future CEO written all over him. There’s a reason the COO is usually the second in command in any company, and it’s no coincidence Tim came from the COO position. The only other real option is to bring in an outsider, which would be a disaster, and a very non-Apple thing to do.
 
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Surf Monkey

Surf Monkey

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Velli said:
Anyone mentioning Craig as an option for CEO has no idea how corporations work, and should be disregarded as a source.

Jeff Williams has future CEO written all over him. There’s a reason the COO is usually the second in command in any company, and it’s no coincidence Tim came from the COO position. The only other real option is to bring in an outsider, which would be a disaster, and a very non-Apple thing to do.
Click to expand...

Williams would be a horrible choice.
 
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