What to expect from Apple's second quarter earnings on May 4
Apple has declared it will be revealing details of its earnings from the second fiscal quarter of 2023 on May 4, accompanied by the usual conference call with investors. Here are the factors that will contribute to the report.
The call itself, hosted by CEO Tim Cook and CFO Luca Maestri, will take place on May 4, 2023, and will discuss the earnings release from earlier that day. The call, according to the Apple investor page, will start at 5:00 PM ET.
Along with the overall financial health of Apple itself from the previous three months, Cook and Maestri are expected to offer forward-looking guidance for the quarter and year ahead.
Wall Street consensus is for apple to generate between about $92.98 billion in revenue. Estimates range from $91.81 billion to $98.84 billion. The year-ago quarter hit $97.28 billion in revenue.
The previous quarterly results from February, covering Apple's first quarter that includes the crucial holiday period, saw the company report $117.15 billion in revenue, a 5.5% year-on-year decline. Revenue from the iPhone was down from $71.6 billion in Q2 2022 to $65.78 billion, Mac revenue reduced down from $10.8 billion to $7.74 billion, and iPad revenue grew from $8.4 billion to $9.4 billion.
Wearables, Home, and Accessories also dropped, from $14.7 billion to $13.48 billion. Services continued to see growth, from $19.5 billion to $20.77 billion, an all-time revenue record
The first quarter benefited from the usual release of flagship products, including the iPhone 14, the Apple Watch Series 8, the Apple Watch Ultra, the Apple Watch SE Gen 2, the second-generation AirPods Pro, sixth-generation iPad Pro, tenth-generation iPad, and third-generation Apple TV. Q2 will also benefit from these releases, with deferred sales of the iPhone 14 Pro and Pro Max due to manufacturing issues likely to be most felt.
Launches during the quarter itself include new M2, M2 Pro, and M2 Max versions of the 14-inch MacBook Pro, 16-inch MacBook Pro and Mac mini, a refreshed HomePod, and a yellow iPhone 14.
As a continuation of Apple's policies since the start of the pandemic, the company did not provide detailed guidance for Q2 during the Q1 results.
AppleInsider will be covering the financial results and the ensuing analyst conference call in detail, as it all rolls out.