What to expect from Apple’s Q2 2021 earnings on April 28
Apple will announce its financial results for the second quarter of 2021 on Wednesday, April 28. Here’s what to expect from the earnings report and conference call.
As with other quarters during the coronavirus pandemic, Apple did not provide formal guidance for its Q2 2021 period, which corresponds with the first calendar quarter of 2021. The company’s previous quarterly performance proved that it could thrive during the global health crisis.
Wall Street consensus expects Apple to report revenue of about $77.1 billion for its second quarter of 2021. Analysts are also predicting earnings-per-share of about $0.98.
That would represent an expected seasonal decline from Apple’s previous holiday quarter. In Apple’s Q1 2021, the Cupertino company reported record-breaking revenue of $111.4 billion, an increase of 21% from the prior year’s holiday quarter and the first time Apple reported revenue above $100 billion.
Year-over-year, Q2 2021 will compare to Q2 2020 — the first quarter that Apple said would be affected by the pandemic. The Cupertino tech giant reported revenue of $58.3 billion in Q2 2020, a 1% increase from the same period a year prior. By most indications, Apple will clearly eclipse those results by a large margin.
App Store customers are also spending a lot more on apps and in-app purchases during the health crisis. Data indicates that app spending surged 40% year-over-year in the first quarter of 2021, and there aren’t any signs that the performance is slowing down.
Samik Chatterjee, JP Morgan
JP Morgan analyst Samik Chatterjee believes investors are primed for softer earnings results in the first quarter of 2021. However, there’s still potential for upside.
The analyst says that iPad and Mac shipments and strong growth in services could drive better-than-expected results for the quarter. That’s despite the fact that iPhone build numbers appear to be slowing down.
Chatterjee believes Apple will report revenue of $78.2 billion and earnings-per-share of $0.99. He forecasts iPhone revenue of $42 billion; iPad revenue of $5.5 billion; Mac revenue of $8.2 billion; Wearables revenue of $7.4 billion; and Services revenue of $15.8 billion.
Additionally, he doesn’t think that Apple will issue formal guidance for Q3 2021, continuing a trend that’s been ongoing since the start of the pandemic.
via AppleInsider News https://ift.tt/3dGGYcl
April 23, 2021 at 10:02AM