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Strong iPhone holiday sales deliver record-breaking revenue for Apple – Business Insider – Business Insider
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Apple CEO Tim Cook
- Apple reports its Q1 2020 earnings on Tuesday, which will provide some insight into how its iPhone 11 lineup is performing.
- Analysts will also likely be looking at how its wearables and services businesses are doing, and will be listening for clues about Apple’s reported plans for a 5G iPhone.
- Visit Business Insider’s homepage for more stories.
Apple reports its fiscal first-quarter earnings on Tuesday after markets close, giving Wall Street a sense of how the company’s products performed over the critical holiday season. It’ll also provide an indication of how Apple’s iPhone 11 lineup has been selling.
Analysts are also eager to see how Apple’s services and wearables divisions are performing, considering these business sectors helped the company offset slowing iPhone sales over the past year.
While third-party estimates indicate the iPhone 11 lineup has performed well so far, it’s the company’s 2020 iPhones that are expected to bring the company’s smartphone business back to growth after several quarters of declining revenue.
Apple’s next-generation iPhones aren’t expected to launch until September, but analysts will likely be listening for any comments from CEO Tim Cook on the company’s plans for bringing 5G to future iPhones during Apple’s earnings call. They’ll also be looking for comments about how Apple’s new TV service, Apple TV Plus, has been performing.
Wall Street is expecting a better quarter for Apple in Q1 2020 compared to the year-ago quarter, when the company issued a revision to its revenue guidance ahead of its 2019 first-quarter earnings. Last year, the company cited challenges in emerging markets like China as a primary reason for its lower-than-expected results.
Here’s a look at what analysts are expecting, and how Apple performed in the year-ago quarter.
- Fiscal first-quarter (FQ1) revenue: Analysts are expecting $88.37 billion. In the same period one year ago, the company posted revenue of $84.3 billion.
- FQ1 earnings per share (EPS) GAAP: Analysts are expecting $4.55. In the same period one year ago, Apple earned $4.18 per share.
- Fiscal second-quarter (FQ2) revenue guidance: Analysts are expecting $62.33 billion. In the same quarter one year ago, Apple earned $58 billion in revenue.
This story is being updated live. Please refresh for the latest.
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