Is Apple Ready With Sweet Words for Investors?
Apple (NASDAQ:AAPL) will announce sales figures for the iPhone 5 as well as its quarterly earnings on October 25, a week later than its usual fourth-quarter reporting date of October 18. After having registered a rare miss in the third quarter, Apple will hope sales of the new smartphone will help it regain its usually strong performance standard.
Wall Street expects Apple to post revenue of $34 billion and earnings of $7.65 per diluted share. While the company previously said it had sold five million iPhone 5 units in the smartphone’s debut weekend, it will be interesting to see if the final numbers match up to expectations. The iPhone is incredibly important to Apple’s revenue stream and its sales usually determine the overall company performance.
Apple has been a huge winning stock pick for Wall St. Cheat Sheet Newsletter subscribers. Don’t waste another minute — click here and get more of our CHEAT SHEET stock picks now.
Last year, Apple registered a strong fourth quarter with $28.87 billion in revenue and $6.62 billion in profit. For this quarter, Apple chief financial officer Peter Oppenheimer predicted revenue of $34 billion on earnings of $7.65 a share during the company’s conference call with analysts.
In the fiscal third quarter, Apple reported revenue of $35 billion and earnings of $8.8 billion, or $9.32 per share. While this was up from revenue of $28.57 billion and profits of $7.31 billion, or $7.79 per share, a year ago, Wall Street had expected Apple to bring in earnings of $10.35 a share on revenue of $37.2 billion.
Don’t Miss: Apple in Trouble Again Over iOS 6.