Apple today reports fiscal third quarter earnings later today after market close.
Analysts forecast that Apple had $53.3 billion in fiscal third quarter sales, essentially unchanged from a year ago. They also forecast earnings per share of $2.09 on average, down 11% from last year.
Within the revenue total, phone sales are expected to decline $3 billion, or 11%, to $26 billion, marking the third straight quarter of decreases. But modestly growing sales of iPads, Mac computers, wearables like the Apple Watch, and services like Apple Music will offset that drop, according analyst forecasts compiled by FactSet.
Investors will be focused not only on the just-completed quarter, but also Apple’s forecast for the upcoming quarter [fiscal Q419]. On average, analysts expect sales of $61 billion from July through September, or 3% less than a year ago.
MacDailyNews Take: A Refinitiv poll of analysts puts expectations at:
• EPS: $2.10 per share vs $2.34 last year
• Revenue: $53.40 billion vs. $53.26 billion last year
Analysts surveyed by FactSet expect:
• EPS $2.09 per share
• Revenue: $53.3 billion
Via Estimize, which crowdsources projections from hedge funds, academics, and others, the average estimate calls for:
• EPS: $2.17 per share
• Revenue: $53.7 billion
Thomson Reuters consensus:
• EPS: $2.10 per share
• Revenue: $53.39 billion
As usual, we’ll bring you Apple’s results right around 4:30pm EDT on Tuesday and then cover Apple’s conference call with analysts with live notes starting at 5pm EDT.