Fiscal 3Q16 earnings
US-based (SPY) Apple (AAPL) will be announcing its fiscal 3Q16 results on July 26, 2016. Analysts expect the firm to post revenues of $42.03 billion for the quarter, which ended in June 2016, with a low estimate of $41.16 billion and a high estimate of $43.29 billion.
Apple’s EPS (earnings per share) are expected to be $1.39, with a high estimate of $1.52 and a low estimate of $1.23. If Apple meets analyst revenue estimates of $42.03 billion, it would still mean a YoY (year-over-year) decline of 15.3% over 3Q15.
Apple beat its analyst estimate for EPS in 3Q15 by 2.2%, when the firm announced EPS of $1.85. Apple also beat the analyst EPS estimate in 4Q15 and 1Q16, by 4.3% and 1.5%, respectively. The company, however, posted EPS 5% lower than the analyst estimate in 2Q16.
First time in 13 years
In April 2016, Apple announced its fiscal 2Q16 results. Its revenue of $50.6 billion was lower than the consensus analyst estimate of $51.5 billion. Its EPS was $1.90—lower than the $1.97 that analysts were expecting. Apple’s EPS fell from $2.33 in fiscal 2Q15 to $1.9 in fiscal 2Q16.
Continue to the next part for a look at expectations for iPhone performance in 3Q16.