LIVE: Here come Apple’s quarterly earnings – Business Insider – Business Insider


  • Apple will report its fiscal third-quarter earnings on Thursday after the market closes.
  • Analysts are expecting revenue to be slightly lower compared to the same quarter one year ago.
  • Wall Street will also be looking for clues about whether Apple’s anticipated 5G iPhone will launch on time.
  • The results come just after CEO Tim Cook testified before Congress about the company’s App Store policies, an important part of Apple’s growing services business. 
  • We’ll be covering Apple’s earnings live, so refresh this story for the latest. 
  • Visit Business Insider’s homepage for more stories.

Apple is about to report its fiscal third-quarter earnings, and analysts are expecting quarterly revenue to drop slightly compared to the same quarter one year ago.

The results will also provide another look at how the COVID-19 pandemic has been impacting Apple’s business as many of the company’s retail stores have remained closed. 

But most importantly, analysts will be looking for clues about whether Apple’s anticipated 5G iPhone is on track to launch during its usual fall timeframe. Analysts will look to whether Apple issues guidance for its fiscal fourth-quarter for clues about this.

“If they issue guidance that’s kind of low, I think from that you can kind of triangulate that the phone might be delayed,” RBC Capital Markets analyst Robert Muller previously said to Business Insider. 

Given the economic impacts of the coronavirus pandemic, which has walloped global smartphone sales according to the International Data Corporation, analysts are looking to Apple’s services business for growth. The company’s booming services category has been a bright spot in recent quarters as iPhone sales have slumped, and that trend is expected to continue in Q3 2020. 

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The results also come on the heels of a major antitrust hearing on Wednesday, in which CEO Tim Cook testified about the company’s App Store policies. Analysts may also ask about how Apple is bracing for any regulation that may result from House Antitrust Subcommittee’s investigation, considering the App Store is an important part of Apple’s services business. 

Here’s a look at what analysts are expecting and how Apple performed during the same quarter last year.

  • Q3 revenue: Analysts are expecting $52.3 billion. In the same quarter one year ago, Apple posted revenue of $53.8 billion.
  • Q3 earnings per share (GAAP): Analysts are looking for $2.07. In its third-quarter of 2019, Apple earned $2.18 a share.
  • iPhone revenue: Apple posted iPhone revenue of $25.9 billion in its fiscal third-quarter 2019.
  • Services revenue: Apple’s revenue segment generated $11.5 billion in the same period last year.
  • Wearables revenue: Apple posted $5.5 billion in revenue for its wearables business in last year’s third quarter.
  • Q4 revenue guidance: Analysts are expecting revenue guidance of $61.6 billion for the fiscal fourth quarter of 2020.

We’ll be covering Apple’s earnings live, please refresh or click here for the latest. 



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