“Monday marks the day that Apple gets to incite the fanatics and quell the naysayers with what’s widely expected to be a blockbuster of an earnings report,” Jim Goldman reports for CNBC.
“Apple’s fourth fiscal quarter will also likely herald the long-sought-after accounting change in the way it books and records revenue connected to its iPhone,” Goldman reports. “And with that change will come the clearest picture yet of just what a dynamic money-maker this company is, and what a jewel it has become in American business history.”
“There is simply no other company [that’s] consistently performing like this one,” Goldman reports. “Look for a sizable beat today on both the top and bottom lines, which is largely baked into Apple shares. The Street is looking for $1.42 on $9.2 billion, though I’ve seen a number of estimates several hundred million dollars higher, and EPS expectations as much as 20 cents higher. On a non-GAAP basis, and with the accounting change connected to iPhone, that third quarter EPS would have swelled to $2.43. Talk about impact!”
Much more in the full article here.
MacDailyNews Note: We will have our usual live coverage of Apple’s earnings results (to be released around 4:30pm EDT) along with live notes from Apple’s conference call beginning at 5pm EDT today.