After market close on January 28th, when Apple earnings are due to be reported, AAPL investors will be focusing closely on services growth when the company reports results for fiscal Q1 2020. Here’s what to look for in Apple’s Q120 earnings report.
Apple’s services revenue has made significant gains in recent years, but off of a small base. Analysts’ estimate of $13.1 billion for Q1 FY2020 is approaching double the figure of $7.1 billion just three years earlier. Services sales are expected to rise by nearly 21% in Q1, more than four times faster than the growth rate of Apple’s corporate sales.
According to Zacks Investment Research, based on 11 analysts’ forecasts, the consensus EPS forecast for the quarter is $4.53. The reported EPS for the same quarter last year was $4.18. The average consensus estimate for revenue is $88.39 billion vs. $84.3 billion (Q119).
MacDailyNews Note: As usual, we’ll have the report of Apple earnings for fiscal Q120 as soon as they are released, right around 4:30pm ET and, following shortly thereafter, we’ll have live notes during Apple’s conference call with analysts starting at 5pm EDT. Just check our home page at those times next Tuesday!