“Apple Inc. is expected to report its first year-over-year decline in iPhone unit sales when it reports second-quarter earnings after the market close on Tuesday,” Jennifer Booton reports for MarketWatch. “”
“Analysts on average are expecting Apple to report iPhone unit sales of 50 million for its most recent quarter, which would mark a decline from 61 million in the year-earlier period,” Booton reports. “The consensus estimate is calling for iPhone unit sales of 217 million for fiscal 2016, versus 231 million last year.”
“Analysts expect Apple to report earnings per share of $2.00, down from $2.33 in the year-earlier period, according to FactSet… It hasn’t missed on the FactSet consensus estimate since the fourth quarter of 2012,” Booton reports. “Sell-side analysts expect Apple to report revenue of $52.0 billion, according to FactSet, down from $58.0 billion in the same period last year… The company fell slightly short of the FactSet consensus estimate last quarter, but beat expectations in the five straight quarters before that.”
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MacDailyNews Note: On January 26, 2016, Apple provided the following guidance for their fiscal 2016 second quarter:
• revenue between $50 billion and $53 billion
• gross margin between 39 percent and 39.5 percent
• operating expenses between $6 billion and $6.1 billion
• other income/(expense) of $325 million
• tax rate of 25.5 percent