Apple (AAPL) earnings report Q4 2023
Apple CEO Tim Cook holds a new iPhone 15 Pro during the Wonderlust project launch event at the company’s headquarters in Cupertino, California, Sept. 12, 2023.
Loren Elliott | Reuters
Apple will report fourth-quarter earnings after the bell on Thursday.
Analysts expect Apple to report its fourth straight quarter of overall revenue decline, but many hope that finance chief Luca Maestri will signal a return to growth on the earnings call.
Here’s what Wall Street expects, per LSEG (formerly Refinitiv) consensus estimates:
- EPS: $1.39 estimated
- Revenue: $89.28 billion estimated
- iPhone revenue: $43.81 billion estimated
- Mac revenue: $8.63 billion estimated
- iPad revenue: $6.07 billion estimated
- Other Products revenue: $9.43 billion estimated
- Services revenue: $21.35 billion estimated
- Gross margin: 44.5% estimated
The quarter will include about a week or so of iPhone 15 sales. Investors are closely watching to see if the latest iPhone models are selling well, and, if so, it would suggest a strong product “cycle” over the next year.
Apple’s fiscal fourth quarter period typically includes a little bit of back-to-school laptop and tablet spending that benefits its Mac and iPad divisions. But Apple warned in August that it expected Mac and iPad revenue to decline by “double-digit” percentages during the quarter.
Investors will also want to hear about how demand is faring in China, after a quarter with renewed competition for consumers from Huawei, as well as reports of new government regulations that could restrict Apple device usage among government officials.
