Apple's earnings report is just five days away — here's what to look for
The fiscal second-quarter results, due after the close of trading on April 30, come with the stock up 31% year to date through Wednesday’s close at $207.16 per share. The S&P 500 has gained about 17%.• Wall Street analysts are looking for earnings of $2.36 per share, according to FactSet, and revenue of $57.6 billion.
• Apple reported revenue of $61.1 billion during last year’s second quarter, leading to earnings of $2.73 per share. The Cupertino, Calif.-based company reported sales of 52.2 million iPhones, up 3% from the same quarter a year earlier. • First-quarter revenue was $84.3 billion, with earnings coming in at $4.18 per share. Apple reported a record $10.9 billion in services revenue, up 19% from the same quarter a year earlier.
• Apple is making a transition away from relying on sales of the iPhone, its mainstay for a decade, and toward a services business that sells subscriptions to the vast number of people who already use its phones and computers. The number of active devices has reached a record high of 1.4 billion, although iPhone sales have dipped.
Apple in March made its boldest bid yet to bolster the services business, with the announcement of subscription services for video streaming , news , and gaming . The much-anticipated announcement raised as many questions as it answered, with no details on pricing for the video and gaming platforms, and vague information about when the products, expected sometime in the fall, will reach the market.A conference call with investors is scheduled for 5 p.m. ET on Tuesday.
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