AppleInsider Staff
In an update to its website on Wednesday, Apple quietly pushed back its quarterly earnings conference call for the second quarter of 2016 by one day to Tuesday, April 26.
The change was relayed through Apple's investor webpage and was not accompanied by an official announcement. Why the company delayed the event, initially slated for April 25, is unclear. Some have suggested the event conflicted with funeral services for the late Bill Campbell, though such rumors have yet to be confirmed.
Aside from the change in date, Apple is expected to handle the current quarter's earnings as usual, meaning CEO Tim Cook and CFO Luca Maestri will likely be on hand to walk investors through the three-month period ending in March.
The upcoming call is one of the most important in recent memory, as investors await news of what is anticipated to be the first year-over-year iPhone sales decline since the popular smartphone launched in 2007. During Apple's last quarterly call in January, Cook said that on top of traditional sequential post-holiday declines, iPhone faces a tough compare to the first quarter 2015. Last year, iPhone 6 sales were unseasonably strong thanks to constrained channel supply in fall 2014.
"We do think that iPhone units will decline in the quarter," Cook said. "We aren't projecting beyond the quarter as Luca mentioned earlier, but at this point in time, we see that Q2 is the toughest compare."
Apple reported a record-breaking quarter in January with $75.9 billion in revenue helped in large part by 74.8 million iPhone sales.
A live stream of the forthcoming quarterly conference call is being hosted on Apple's website and is scheduled to kick off on Tuesday, April 26 at 2 p.m. Pacific, 5 p.m. Eastern. AppleInsider will also offer live coverage of the event.
Update: An Apple spokesperson confirmed to Re/code that the earnings call was rescheduled out of respect for friends and family of former board member Bill Campbell, who passed away earlier this week. Company executives will attend a memorial service on Monday.
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18 Comments
They moved it because it conflicted with the memorial service for Bill Campbell.
Stocks will drop after. Sell now!
Is this a delay of the release of the "earnings statement", or just the earnings release conference call?
This is exactly GT Advanced (Apple's supposed sapphire supplier) did right before they announced bankruptcy. The Apple were right all along - i.e. Apple is doomed. Jk - long Apple