26 October 2016
Apple announced yesterday that it will publicize the quarterly earnings report of the company for the third quarter of the 2016 financial year. The results will be announced on 26th July. It will be followed by the investor conference call.
The streaming of the event will take place live, as it happens usually. The live stream will start at Thursday, July 26 from 14:00 hours Pacific Time. The announcement has mentioned, but it is likely that Tim Cook and Luca Maestri, the CEO and the CFO of the company are likely to attend.
It was the first Y-o-Y shrinkage for iPhone sales in the previous quarter for Apple, which brought to an end a chain of lengthy record breaking time that can be traced way back to 2007, which is when the company launched the first ever iPhone. The revenue Apple used to get from iPhone sales came down by 18% for the March-ending quarter. Even the sales of Macs and iPads were disappointing for the otherwise bright figures. As a whole, Apple’s revenue saw a dip by 13%.
It’s not like that the dip wasn’t expected. Actually, the slowdown would be there anyhow as the Cupertino-based company had a hard time competing with business rivals early last year. There was higher business thanks to the demand in the pent up iPhone 6. The company’s other devices like the iPad also experienced some failure for a number of months. The services given out by the company like iCloud, App Store and the popular iTunes and Apple Music were also lesser than what the company would have expected them to perform.
Looking at the future, Apple hopes for revenue of something from $41 billion to $43 billion and gross deficit from 37.5% to 38%. And these expectations are below the output for the same duration last year. As far as the operational expenses go, they may come down to around $6 billion.