Apple on Monday announced plans to report quarterly earnings for the second fiscal quarter of 2019 at the end of trading on April 30, with company executives expected to detail the period’s highs and lows in an ensuing investor conference call.
Announced in an update to Apple’s Investor Relations webpage, the forthcoming conference call is scheduled for Tuesday, April 30, at 2 p.m. Pacific, 5 p.m. Eastern.
Company CEO Tim Cook and CFO Luca Maestri are expected to provide an in-depth breakdown of segment financials for the three-month period ending in March, potentially offering an early look at the performance of newly released iPad and AirPods models. The pair is also anticipated to field questions from select analysts.
Following a rare guidance revision in January, Apple posted earnings of $84.3 billion in revenue on the back of $52 billion in iPhone sales. Despite a handset revenue contraction of 15 percent year-over-year, the company touted a 19 percent uptick in overall growth driven in large part by solid sales in other sectors.
“While it was disappointing to miss our revenue guidance, we manage Apple for the long term, and this quarter’s results demonstrate that the underlying strength of our business runs deep and wide,” Cook said during last quarter’s conference call.
In line with recent quarters, Apple’s services arm continued to follow an upward trajectory during the three-month period ending in December. The segment raked in $10.9 billion, an all-time high. Services are expected to boom throughout 2019 and 2020 as Apple introduces a slate of new products to its existing App Store, AppleCare, Apple Music, Apple Pay, iCloud and iTunes offerings.
Apple’s services roadmap was unveiled at a special event last week, with the first of the new products, subscription news service Apple News+, arriving as part of iOS 12.2. Other initiatives, like Apple TV Channels and Apple TV+, game subscription service Apple Arcade, and the Goldman Sachs-backed Apple Card, are due out later this year.
For the current quarter, Apple is forecasting revenue between $55 billion and $59 billion, with gross margin estimated to fall between 37 percent and 38 percent. Operating expenses are expected to lie between between $8.5 billion and $8.6 billion.
AppleInsider will offer full coverage of the earnings call on Tuesday, April 30, starting at 2 p.m. Pacific, 5 p.m. Eastern.