Apple to reveal fiscal Q2 2017 earnings on May 2
Apple on Monday announced plans to report quarterly earnings for the second fiscal quarter of 2017 on May 2, a key period that follows the company's record-breaking 2016 holiday quarter.
Announced through Apple's Investor Relations webpage, the upcoming earnings report will be followed by an conference call set to stream online on Tuesday, May 2, at 2 p.m. Pacific, 5 p.m. Eastern. As usual, Apple CEO Tim Cook and CFO Luca Maestri will likely take part in the call, offering color on metrics and answering questions from market analysts.
Apple is looking to maintain iPhone sales growth levels in the second quarter following a booming first fiscal quarter. The lucrative holiday shopping season and September launch of iPhone 7 helped push iPhone sales to 78.3 million units in the December quarter, fueling $78.4 billion in revenue. Both figures set all-time quarterly records.
The company reached its peak after a first ever iPhone sales contraction in the second quarter of 2016, often the slowest three-month period of the year. Revenues from Apple's services arm, which includes Apple Music, iCloud, iTunes and the various App Stores, helped buoy income during the iPhone sales slowdown, as did unexpectedly strong demand for the 4-inch iPhone SE.
After its return to iPhone growth, Apple stock has seen a steady upward trend over the past few weeks. Following a series of all-time highs, AAPL shares most recently hit $143.80 last week, sitting a little over three dollars shy of a market capitalization record set in 2015.
For the second quarter of 2017, Apple is guiding for revenues between between $51.5 billion and $53.5 billion and gross margin between 38 and 39 percent.
AppleInsider will be covering Apple's conference call for the first fiscal quarter of 2017 live on Tuesday, May 2, starting at 2 p.m. Pacific, 5 p.m. Eastern.
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