“Apple is on tap to report results for its fiscal third quarter after the market closes Tuesday,” Jennifer Booton reports for MarketWatch. “Analysts on average expect Apple to report earnings per share of $1.40, down from $1.85 in the year-earlier period, according to FactSet. Estimize, a software platform that uses crowdsourcing from hedge fund executives, brokerages and buy-side analysts to predict earnings, has Apple earning slightly more, at $1.42 a share. Apple missed both the FactSet and Estimize consensus estimate last quarter, snapping a 13-quarter streak of beating the FactSet consensus.”

“Sell-side analysts expect Apple to report revenue of $42.2 billion, according to FactSet, down from $49.6 billion in the same period last year. Contributors on Estimize are forecasting revenue of $42.1 billion,” Booton reports. “Roughly 40 million phones are expected to have been sold during the quarter, according to FactSet, compared with 48 million in the same quarter last year.”

“Apple is expected to announce software and services revenue of $6 billion for its fiscal third quarter, according to FactSet,” Booton reports. “That would be $1 billion more than the same quarter a year ago and again make the sector Apple’s second-largest moneymaker behind the iPhone, with the Mac business expected to come in third at $5.5 billion, according to FactSet.”

Read more in the full article here.

MacDailyNews Note: Analysts’ consensus estimates as per Thomson Reuters for Apple’s fiscal Q316, ending June 16th:

• Revenue: $42.09 billion
• EPS: $1.38

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