On this the day of Apple’s fiscal first quarter 2017 earnings report, the majority of financial analysts are expecting the Cupertino firm to announce a return to revenue growth, following three straight quarters of falling sales.
Apple is scheduled to report its earnings results for the fiscal first quarter of 2017 (calendar fourth-quarter 2016) at 1:30 PM Pacific Time today. Earnings for the quarter will include the lucrative holiday shopping season as well as a week more of revenue than usual because the firm’s quarters always end on the last Saturday of the quarter, leading to this quarter having 14 weeks in place of the usual 13 weeks.
While Apple’s official guidance for the quarter calls for revenue of $76 to $78 billion — which would be a record, topping the current record of $75.9 billion, set a year ago — Wall Street analysts are expecting the iPhone maker to report revenue of around $77 billion, midway in Apple’s guidance.
Apple also expects to report gross margins between 38% and 38,5%, down from 40.1% in the year-ago quarter.
Fortune writer Philip Elmer-DeWitt surveyed the independent and institutional analysts shown in the chart below, which expect an average of $77.62 billion in revenue.
We’ll cover Apple’s Fiscal Q1 2017 financial results when they are released this afternoon. We’ll also provide highlights of the conference when it is over. If you’d like to listen live, Apple has announced that it will livestream its fiscal 2017 First Quarter financial results conference call today, at 2:00 PM Pacific Time / 5:00 PM Eastern.
