Apple will report its earnings results for the second quarter of its 2023 fiscal year on Thursday, May 4 at 1:30 p.m. Pacific Time. Apple’s CEO Tim Cook and CFO Luca Maestri will discuss the results on a conference call for investors a half hour later.
Keep reading for some key things to know about the quarter, including a recap of new products announced, revenue expectations, and more.
New Products During Quarter
The quarter ran from January 1 through April 1, according to Apple’s fiscal calendar, and included the following product launches:
Year-Over-Year Revenue Decline Expected
Apple has not provided guidance since the start of the COVID-19 pandemic, but analysts currently expect the company to report revenue of around $93 billion on average this quarter, according to Yahoo Finance. This would be a revenue decline of around 4.5% compared to the $97.3 billion the company reported in the year-ago quarter.
Maestri provided the following commentary on Apple’s earnings call last quarter:
Given the continued uncertainty around the world in the near term, we are not providing revenue guidance, but we are sharing some directional insights based on the assumption that the macroeconomic outlook and COVID-related impacts to our business do not worsen from what we are projecting today for the current quarter. In total, we expect our March quarter year-over-year revenue performance to be similar to the December quarter.
Cook and Maestri will hold a conference call at 2:00 p.m. Pacific Time on May 4 to discuss the company’s second quarter earnings results. The call should last around one hour and will include a Q&A segment with analysts.
A live audio stream of the conference call will be available on Apple’s Investor Relations page, and a recording will be available later in the day for replay.
Investors will be listening for any potential commentary surrounding the economy as concerns persist about a recession in the U.S. and other countries.
Apple’s third quarter began April 2 and runs through July 1. Apple has yet to announce any new products during this quarter, but it did open its first retail stores in India and launch an Apple Card savings account in partnership with Goldman Sachs.
AAPL is currently trading at around $168, down around 4.5% from a 52-week high of $176.15.
The Wallet and Health apps are rumored to be getting updates in iOS 17, and leaker @analyst941 today shared some mockups that allegedly represent the design changes that we can expect to see. In the Wallet app mockup, there’s a navigation bar at the bottom that separates the different functions available in the app. Cards, Cash, Keys, IDs, and Orders are listed categories. Note that this is…
Apple made the third beta of iOS 16.5 available to developers and public testers earlier this week. So far, only two new features and changes have been discovered for the iPhone, including a Sports tab in the Apple News app and the ability to start a screen recording with Siri. More details about these changes are outlined below. iOS 16.5 will likely be publicly released in May, and it is…
Siri and Apple’s use of AI has been severely held back by caution and organizational dysfunction, according to over three dozen former Apple employees who spoke to The Information’s Wayne Ma. The extensive paywalled report explains why former Apple employees who worked in the company’s AI and machine learning groups believe that a lack of ambition and organizational dysfunction have hindered …
With all four iPhone 15 models expected to feature a USB-C port instead of Lightning, several Apple accessories will switch to USB-C as well. For example, EarPods with a USB-C connector are already in mass production, according to a tweet today from leaker ShrimpApplePro. They previously said Foxconn is supplying the earbuds. The new EarPods would connect directly to the USB-C port on iPhone …
A pre-release version of Apple Pay Later continues to roll out to randomly selected iPhone users, as noted by tech enthusiast Will Sigmon. Built into the Wallet app, the “buy now, pay later” feature lets qualifying customers split a purchase made with Apple Pay into four equal payments over six weeks, with no interest or fees. iPhone users will see an “Early Access” banner for Apple Pay…