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Live updates: Apple to report quarterly earnings today after the market close

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Apple reports second-quarter earnings on Thursday.Investors will be looking for updates on Chinese iPhone demand.The company’s stock is down 12% in 2024 so far, trailing the S&P 500.

Apple will report fiscal second-quarter earnings on Thursday after the closing bell.

Analysts are dialed in on Apple’s iPhone business in China, which has faced a surge in competition over the past year, as well as its capital return plans and guidance as it prepares to release its next-generation iPhone later this year.

Apple’s stock was down 12% year-to-date through Wednesday’s close, trailing the the S&P 500‘s 5% gain.

Apple’s consensus second-quarter revenue estimate is $90.33 billion.

2nd quarter

Revenue estimate: $90.33 billion

Products revenue estimate: $66.95 billion

iPhone revenue estimate: $45.76 billion

Mac revenue estimate: $6.79 billion

iPad revenue estimate: $5.91 billion

Wearables, home and accessories estimate: $8.29 billion

Service revenue estimate: $23.28 billion

Greater China rev. estimate: $15.87 billion

EPS estimate: $1.50

Operating cash flow estimate: $22.87 billion

Total operating expenses estimate: $14.33 billion

Gross margin estimate: $42.01 billion

Cash and cash equivalents estimate: $36.83 billion

Cost of sales estimate: $48.52 billion

Total current assets estimate: $142.22 billion

Total current liabilities estimate: $116.82 billion

Source: Bloomberg

Read the original article on Business Insider

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