Apple reports earnings after the bell on Tuesday, a report that could reveal whether iPhone X sales have been as soft as feared, amid expectations of a massive capital return program.
Here’s what Wall Street expects:
- Earnings per share: $2.67, adjusted, expected by a Thomson Reuters consensus estimate
- Revenue: $60.82 billion expected by Thomson Reuters consensus
- iPhone unit sales: 52.54 million expected by a StreetAccount estimate
- Fiscal Q3 revenue guidance: $51.61 billion expected by Thomson Reuters consensus
Apple’s new approach to its flagship phone has made it harder than usual to gauge the company’s success. Last fall, the company released three new flagship phones, instead of the usual two. It also released a smart speaker, the HomePod, early this year.
These product releases have put the company’s future plans into question, bringing scrutiny to its revenue guidance for the fiscal third quarter.
The company has also faced fierce competition in China, a massive market that has homegrown superstars like Huawei and Xiaomi.
Apple historically doesn’t report sales of individual product generations or countries.
Still, Apple’s market capitalization remains the highest in any public market, amid optimism around tax cuts and major share buybacks.The company has announced plans to invest in advanced manufacturing in the U.S. and add a new campus. It also has ambitious plans to expand its software and services, and has expanded its reach in content, education and retail.
Apple also recently released a new high-end desktop and a new entry-level iPad.
StreetAccount says Apple’s EPS results have beaten consensus 19 of the past 20 quarters.
This is breaking news. Please check back for updates.
