Please also note that these forward-looking statements reflect our opinion only as of the date of this call. Today, Apple announced on its Investor Relations website that it will be hosting its Q3 2020 earnings call at the end of July. During the third quarter, which includes late March through late June, the . We took it for a spin ahead of the release and will walk you through how it works and what devices are supported. And then I have a follow-up. In our last call, I mentioned Friday Night Baseball on Apple TV+, which is already delighting baseball fans. AppleInsider may earn an affiliate commission on purchases made through links on our site. Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services. Cook said that the iPad decline was also driven by supply constraints and a strong dollar. Apple share price: Q3 . Despite the shaky macroeconomic conditions, the analyst believes Apple's overall growth story for 2022 remains intact. AAPL earnings Q3 2022 will plateau - analysts Yahoo Finance has its. And the majority of that constraint last quarter was coming out of the COVID restrictions that occurred, that resulted in plant closures and plants running at less than full utilization for some amount of the quarter, in some cases, the majority of the quarter. However, Apple did warn of a potential $4 billion to $8 billion revenue hit because of supply constraints and strict Covid-19 lockdowns in China. Katy Huberty of Morgan Stanley in her last note covering Apple trimmed the company's price target to $180 based n expectations that the company would post results slightly below consensus expectations. It includes monthly subscriptions, payment fees, warranties, search licensing fees from Google, and revenue from the iPhone App Store. We unveiled new innovations and accessibility such as door detection and live captions that support users with disabilities with navigation, health, communication, and more. Apple reported fiscal third-quarter earnings on Thursday that beat Wall Street expectations for sales and profit but showed slowing growth for the iPhone maker. While I'm calling you on my iPhone 13 Max Pro and loving it, I just wanted to ask you, though, with replacement cycles, have you noticed any change now that we've been through like two and a half years of COVID where people upgrading at a different rate and kind of post-COVID, hopefully, upgrade cycles or replacement cycles, how we should kind of think about that? Duluth Holdings Inc. (NASDAQ: DLTH) Q3 2022 Earnings Call Transcript December 6, 2022. Good day, and welcome to the apple q3 fy 2022 earnings conference call. OK, that's helpful. I did it on my iPad in Vectornator, using it for the first time. And then very specifically, can you actually just call it what the FX headwinds are embedded in the September quarter gross margin, that would be helpful. I'm not saying that there's not one. Today, iOS 16, iPadOS 16, MacOS Ventura, and watchOS 9 are all in public beta, and we couldn't be more excited to see what our community of developers creates with them. These replays will be available by approximately 5 p.m. Pacific Time today. We'll take our next question from Samik Chatterjee with J.P. Morgan. MacBook Air is Apple's best-selling computer. Of course, there was an impact from the business in Russia. So we don't have a very specific number to give out today. Let me now turn to our cash position. Apple stock rose over 3% in extended. Figure 1: AAPL on July 27 trading after hours. Driving the revenue picture for Apple, in spite of more Covid-related . Got a confidential news tip? It was a truly special experience and a reminder of the economic miracle the App Store represents. Jun 28, 2022. So clearly, foreign exchange is something that is affecting us but we think we're navigating that fairly well. However, the top-line looks to expand marginally . Apple typically releases new iPhones in September and sales fall as customers anticipate new models. +20 Iphone 14 Release Date And Price Australia References, +20 When Does The New Iphone Update Come Out 2022 Ideas, The Best New Iphone Coming Out In March 2022 References, Incredible Iphone Release Date 2022 Uk References. And it includes our work to promote racial equity and justice. Apple, Inc. (NASDAQ:NASDAQ:AAPL) Q3 2022 Earnings Conference Call July 28, 2022, 17:00 PM ET Company Participants Tejas Gala - Director, IR and Corporate Finance Tim Cook - CEO Luca Maestri. We have a very, very strong offering for the back-to-school season and we'll see how we do this quarter. Apple CEO Tim Cook and CFO Luca Maestri will offer color on the results and expectations for the future. Jul 22, 2021 3:22AM EDT. To date, we have deployed more than $1.3 billion to a number of initiatives, including ones that provide financial assistance to low and moderate-income first-time home buyers develop new affordable housing and help support vulnerable populations. We expect gross margin to be between 41.5% and 42.5%. And so I see that we play a role in that. AMZN's next earnings date is UNCONFIRMED for Thursday 02/02/2023 After Market. Apple's 2022 update to the iPad Pro lineup introduces its newest Apple Silicon chip to its tablet range. Visit our earnings calendar page for more information on earnings and EPS offerings. And in particular, in the run-up to June 18, which as you know, is a major shopping holiday in China. Apple to Announce Q3 2022 Earnings on July 28. We expect Apple's Revenues to come in at about $72.5 billion, marking an increase of about 21% year-over-year. Wireless charging for the iPad Pro is finally here assuming you want to spend $200 or more on the Pitaka MagEZ Case Pro ecosystem. My question is, when I look at your services business, I see a $20 billion business on a quarterly basis. Despite this, our installed base of devices in the category hit a new all-time record, thanks to very strong customer loyalty and high new tool rates. Congratulations to you and all your team members. Of course, the most important thing for us is to maintain an incredible customer satisfaction and loyalty from the customers. Our investment focus on Mac has helped drive significant growth in our installed base, which reached an all-time high during the June quarter as nearly half of the customers purchasing a Mac were new to the product. 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Covid lockdowns in China had a major impact on Apple's supply chain, and the $4 billion to $8 billion revenue hit is not an insignificant headwind. The redesigned entry-level 10.9-inch iPad is closer to the iPad Air than ever. And so this is fueling the additional installed base even more. The iPhone maker reported $1.29 earnings per share for the quarter, topping the consensus estimate of $1.26 by $0.03. That's in-line with the average Wall Street expectations, but higher than bear estimates for Apple's June quarter. Apple's overall. After all, the newsletter theyhave run for over a decade,Motley Fool Stock Advisor, has tripled the market.*. The dividend is payable on May 12, 2022, to shareholders of record as of. We expect Apple's Revenues to come in at about $72.5 billion, marking an increase of about . If you could just frame that for us, that would be great. Apple Q3 2022 Earnings Date. Chipmakers and other computer vendors have signaled that there is slowing demand for smartphones and PCs around the world as consumers grapple with recession fears and decades-high inflation. Yes. 2022 Quarter. Apple last issued its quarterly earnings data on October 27th, 2022. We saw great enthusiasm for our products and services, resulting in an all-time record for our installed base of active devices. Very helpful. On the -- from an aggregate point of view, looking at it worldwide, looking at the data on iPhone for the June quarter, there's not obvious evidence in there that there's a macroeconomic headwind. iPad, like Mac, continued to see strong demand during the June quarter despite ongoing supply constraints. Last quarter, Apple reported revenue of $83.0 billion and a profit of $19.4 billion. Here's how the latest iPad Pro models compete against Apple's 2021 generation. Tim, I thought you said in response to earlier question that you haven't really seen a material impact from the macro on iPhone yet. And so we'll continue to hire people and invest in areas, but we are being more deliberate in doing so in recognition of the realities of the environment. iPad revenue was $7.2 billion, down 2% year over year due to supply constraints and negative foreign exchange. We expect Apple's Revenues to come in at about $72.5 billion, marking an increase of about 21% year-over-year. The weekly Apple chart highlights the declines seen over the course of the second quarter of 2022, with the June low of $129.07 representing a 30% decline from the January high. The company posted a june quarter revenue record of $83.0 billion, up 2 percent year over year, and quarterly earnings per diluted share of. Incredibly important in terms of reducing the affordability threshold. And whether or not that is because they're lower ASPs versus the higher ASPs of a phone, I can't tell you that. 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Though it didn't provide revenue guidance, Apple did say it expects. Cook said Apple has 860 million current paid subscriptions, which includes anyone who subscribes to an app sold on the Apple App Store in addition to products such as Apple Music and iCloud. [Operator instructions] Operator, may we have the first question, please? However, the MacBook Pro won't likely have a significant effect on Mac shipments, given that it debuted toward the end of the quarter. OK, that makes sense. Members of the press with additional questions can contact Josh Rosenstock at (408) 862-1142. During COVID, some of the compares have been a bit lumpy because there have been lockdowns and reopenings and so on. Cook told CNBC that the company is seeing inflation but will continue to make investments. Apple's board of directors declared a cash dividend of $0.23 per share on common stock, reflecting an increase of 5%. Apple turned in a record fiscal Q3, with earnings per share of $1.20 topping the consensus analyst estimate of $1.16. Apple will be reporting its earnings results for the third quarter of the 2022 fiscal year on thursday, july 28 at 1:30 p.m. For q3 2022, analyst predictions for revenue varied; Report reports fiscal q3 earnings on thursday, july 28 and wall street will be paying very close attention. Apple today announced that it will report its earnings results for the third fiscal quarter (second . As usual, the company will release its Q3 2022 earnings. And with that, I'll turn it over to Luca. The firm earned $82.96 billion during the quarter, compared to analysts' expectations of $82.97 billion. The report will be for the fiscal Quarter ending Sep 2022. There's a lot of macro worries and high inflation impacting consumer demand. We were also pleased to get FDA approval for a new feature that will let users with irregular heart rhythms track the time they spend in Afib. Here's what to expect to hear during Thursday's earnings report. Apple's Q4 2022 covers the months of July, August, and September. From a commodity standpoint, I think you were asking a question around components. And Tim, I wanted to follow up on your comment about the macro impact that you've seen on wearables. And paid subscriptions showed very strong growth. That implies there could be some pressure next year as upgrade rates slow. "We see it in things like logistics and wages and certain silicon components and we're still hiring, but we're doing it on a deliberate basis.". As earnings season continues to unfold, one important report to watch next week is Apple 's ( AAPL -0.34%). Thank you. The analyst believes Apple will outperform Wall Street expectations despite the rough macro environment. Supplies of the iPhone 14 Pro models have improved and moderated lead times for getting into the hands of customers, JP Morgan's tracker indicates, but lead times will continue to be a focus throughout December. Services had a June quarter revenue record of $19.6 billion, up 12% despite almost 500 basis points of FX headwinds as well as impacts from our business in Russia and the macroeconomic environment. And obviously, strong dollar tends to be a headwind for us. David Vogt of UBS believes that Apple's June quarter is looking up, particularly because of a strong rebound in the company's iPhone sales in China after a month-over-month decline. (Read more from Apple Maven: Apple Fiscal Q3 2021 Earnings: Live Blog For Investors) Below, the Apple Maven lists the 3 key takeaways from earnings . And that's utilizing iPhone and iPad. When you show bar charts and point out quarters, it would be nice if you could label the chart better in a graphic program after the chart source exports the chart. We also celebrated the graduation of the inaugural class of our Developer Academy in Detroit from a program designed to give students the skills they need to pursue jobs in the thriving iOS app economy. And of course, the other key variables are some things that Luca mentioned earlier where the size of the installed base has been growing significantly. Q3 2022 Earnings Call Dec 08, 2022, 5: . Also: The company pitches itself as a health tech leader, and we have more details . You said less severe or less worse supply challenges into September. But I think the way to think about it, certainly the way we think about it is that there's a number of levers in our services business to take into account. Tejas Gala Director of Investor Relations and Corporate Finance at Apple Thank you. And we'll continue to execute on that vision as we always have, led by a focus on excellence and a desire to leave the world better than we found it. Good afternoon, everyone, and thank you for joining us. Now I want to turn to retail. Thanks for the question. For example, Apple Watch continues to extend its reach, with over two-thirds of customers purchasing an Apple Watch during the quarter being new to the product. Us. Earnings-per-share hit $1.20 for the. Daniel Ives of Wedbush believes that supply disruptions and ongoing constraints will have an obvious effect on the June quarter. To give you a little more color on what we saw in the June quarter, we came in slightly below, from a constraint point of view, the $4 billion number that we had put, at the four to eight are the low end of that range. Apple updated its iPad lineup, and there are more pricing tiers than ever. One of the best parts of WWDC was welcoming developers to Apple Park while continuing to connect with developers all over the world. If you love AppleInsider and want to support independent publications, please consider a small donation. And you keep adding -- as a company, you keep adding very interesting and transformative features such as payments, something like that every year. And so it's a mixed bag in terms of what we believe that we saw. The Bose QuietComfort Earbuds II offer all of the comforts of noise-cancellation in a wireless package similar to the new AirPods Pro 2. But we have given a few data points. The. Apple revenue and gross margins up until Q2 2022. And then maybe, Luca, for you. The company posted a june quarter revenue record of $83.0 billion, up 2 percent year over year, and quarterly earnings per diluted share of. That is having an impact already for the September quarter, had an impact on June. Apple increased revenue by 8% during the quarter, and Apple CEO Tim Cook told CNBC that it would've grown "double-digits" if not for the strong dollar. We were also proud to celebrate the 15th anniversary of iPhone, a device that continues to change the world in profound ways with each new innovation. Apple Music Sing officially arrives in the iOS 16.2 update. Apple to announce q3, 2022 earnings report on july 28 by rida imran jun 29, 2022 apple has announced that the earnings report for the third quarter of 2022 will be published on july 28 and it will. Amit Daryanani -- Evercore ISI -- Analyst. You're seeing double-digit growth in customers new to iPhone. Apple ( AAPL -0.34%) Q3 2022 Earnings Call Jul 28, 2022, 5:00 p.m. Just this month, we learned that Apple TV+ earned 52 Emmy Award nominations across 13 titles. And we're really pleased that it's currently at 98% for the latest iPhones. Apple (AAPL) on Thursday reported its profits declined by nearly 11% in the three months ending in June from the same period a year ago as the company works through an economic downturn and supply . Apple revenue fell short of Wall Street expectations in its fiscal fourth quarter on Thursday, which Apple CEO Tim Cook attributed to larger-than-expected supply constraints. Required fields are marked *. Q2 (April 1 - June 30) July 15 - August 31. Luca, you mentioned revenues to accelerate year over year overall in September versus your June growth rate. And in -- so in addition to those four items, we believe, based on the data, that there was also a macroeconomic environment hit. We did see a lower demand based on the COVID lockdowns in the cities the COVID lockdowns affected. We set June quarter records in both developed and emerging markets. + google calendar + ical export. We can do better in other markets. But at the same time, our Services business a year ago grew a lot and so also the compare is a bit challenging. Q1 (Jan 1 - March 31) April 15 - May 31. Let me expand a little bit on Wearables, Home, and Accessories so that I clearly communicate what we saw. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services. Price as of December 9, 2022, 4:00 p.m. Our supply constraints were less than we anticipated at the beginning of the quarter, coming in slightly below the range we discussed during our last call. However, some like Katy Huberty believe Apple may post results lower than consensus because of supply issues hitting the Mac lineup particularly hard. As I mentioned, it has reached an all-time high across every geographic segment, across every product category. I'd like to take this opportunity to express my appreciation to our team members working in Apple Stores, customer care centers, and channel partner stores and to our Apple Care teams for their incredible work supporting customers wherever they are. Get this delivered to your inbox, and more info about our products and services. AppleInsider is one of the few truly independent online publications left. Services grew over 12% during the quarter, although that is a decline from the 17% growth it posted in the second quarter, and down from the 27% growth it reported during the same time period last year. On Apple's hardware, multiple reports and analyst comments indicate that demand for the iPhone 13 and iPhone 13 Pro is still unusually strong for this time of year. As we look forward, we're clear-eyed about the uncertainty in the macro environment. The company said Tuesday that its services business, which includes Apple TV+, Apple Music, the App Store and iCloud, delivered $17.5 billion in revenue in the third fiscal quarter of 2021, which . I mean, obviously, affordability is a very important topic for us. Apple's 79-pound iPhone Self Repair Program toolkit is on our test bench. And yet, it's not fiscal Q2's earnings that worry Hall . Krish Sankar of investment bank Cowen believes that Apple will post revenues largely in-line with Wall Street consensus. The index is expected to report its lowest year-over-year earnings growth since the third quarter of 2020, according to FactSet. When you then look at Services, there were some Services that were impacted, for example, like digital advertising was clearly impacted by the macroeconomic environment. Analysts expected the company to give fourth-quarter guidance of $1.31 in earnings per share and nearly $90 billion in sales. Fundamentally, we are working on two major initiatives for affordability. Apple CEO Tim Cook Jemal Countess/Getty Images. ET, 1 Green Flag for Apple Stock in 2022, and 1 Red Flag, Why Apple Stock Eked Out a Market Beat Today, 3 No-Brainer Stocks to Buy Amid the Tech Sell-Off, Why Investors Should Love Apple's Dividend, Why Apple, Salesforce, and Qualcomm Stocks Are Volatile Today. And the iPhone active installed base reached a new all-time high across all geographies as a result of this level of sales performance combined with unmatched customer loyalty. The earnings report and subsequent call will provide insight into product performance in the period between March and June. We felt good, frankly, that we were able to, by the end of the quarter, get this back to where we were down 10 points. We'll take our next question from Ben Bollin with Cleveland Research. We're trying to empower the user to own their data and make their own choices. A passkey can't be phished nor can it be stolen by hackers in a data breach because the information is stored on your device and your device alone. Get the latest Apple earnings report, revenues as well as upcoming AAPL earnings dates, historical financial reports, news, analysis & more. Speaking first today is Apple's CEO, Tim Cook; and he'll be followed by CFO, Luca Maestri. *Stock Advisor returns as of July 27, 2022. Thank you, Tim, and good afternoon, everyone. As you know, we have a hedging program and so we mitigate that impact. We are very pleased to report June quarter financial results that continue to demonstrate our ability to innovate across hardware, software, and services while operating our business effectively during very challenging economic circumstances. A Division of NBCUniversal. Like this June quarter, Q3 2021 was also the full first quarter of availability for products like the M1 iPad Pro, updated Apple TV 4K, and AirTag tracking accessory. Apple's Chinese iPhone factory misfortunes will certainly impact shipments, says JP Morgan, but the full impact won't be known until the facility returns to normal output. Apple's iPhone is also continuing to gain ground in China and is selling well despite smartphone downturns. Last month, we announced the introduction of passkey, a next-generation credential that's intended to replace passwords. All in all, the Cowen analyst still believes Apple is a defensive name to own during the current financial uncertainty. Microsoft's Surface Laptop 5 is a thin and powerful Windows notebook in the same market segment as Apple's MacBook Air. The S&P 500 is about 24% off its 52-week high after hitting a new bear-market low Tuesday (9/27), heading into Q3 earnings season. Here's how to choose which tablet to buy for your budget. Certainly doesn't seem to be very visible in your performance and your expectations. Here's how they compare. Great. And you mentioned in your prepared remarks that you saw sort of the record number of switchers in the quarter. Apple ( aapl) stock investors are awaiting an earnings report later this week. Sankar bases his forecast on healthy iPhone and Mac demand during the quarter, despite macroeconomic headwinds. Please go ahead. Just a further improvement on what @jellybelly suggested. And the iPad installed base reached a new all-time high, with over half of the customers during the quarter being new to the product. I mean, just in terms of how you're preparing for the uncertainty is I guess the question. Click here to get access to the full list! And so it was a very big impact to the Mac business. OK. And for my follow-up, I know you said you don't want to sort of predict the macro here or be an economist. Our Services set a June quarter revenue record of $19.6 billion, up 12% over a year ago, with all-time revenue records in the Americas and the rest of Asia Pacific and June quarter records in Europe and Greater China. We continue to be excited about our long-term opportunity with Mac and redefining the PC experience with our relentless innovation. And so those are the things that underpin it. These statements involve risks and uncertainties that may cause actual results or trends to differ materially from our forecast. So it's very difficult to talk about a steady-state growth rate for our services business. We also attracted a record number of switchers for the June quarter, with strong double-digit year-over-year growth. Apple, I mean, they started pretty high . Financial analysts can contact me with additional questions at (669) 227-2402. And Tim mentioned that there are some pockets of weakness, primarily in digital advertising that we will need to work through. And also, any thoughts on how or when that might influence replenishment of supply into your retail channels? In the enterprise market, our customers are increasingly investing in Apple products as a strategy to attract and retain talent. Maybe to start on the gross margin discussion, Luca. But for last quarter, what we saw was the -- when the COVID restrictions hit in the Shanghai corridor, we lost the primary source of supply for Mac units. And trading programs. That suggests revenues around $82 billion during the June quarter. And so one of those is clearly the FX, which Luca has mentioned, that was over 300 basis points on year-over-year growth rates. When you look at the product categories, on iPhone, there was no obvious evidence of macroeconomic impact during the June quarter besides FX, obviously. Tim, you cited growth in Apple apps in the past, and clearly, the privacy policies you've taken have really reshaped the mobile ad market. As you know, they have different margin profiles for very different reasons, different businesses, even different accounting treatment at times. If you look into the future, the silicon shortage, we're not forecasting when that will end. . Apple Q3 FY2022 Earnings Report Preview: What to Look For Focus on Apple's Services Revenue By Becca Schimmel Published July 27, 2022 Key Takeaways Analysts estimate EPS of $1.20 vs.. The prospect of Apple acquiring Disney seems not just unlikely, but incredibly improbable, after the returning CEO told employees the rumors are "pure speculation.". Net income was $19.4 billion and diluted earnings per share were $1.20, while operating cash flow of $22.9 billion was a June quarter record. So installments and trade-ins, very, very important on affordability. Please enter confirmation code 8820355. And so that's what we are focused on is innovating like crazy and giving somebody something that they really want and see themselves using. Apple narrowly beats estimates, reports record Q3 2022 revenue - 9to5Mac iPhone: $40.67 billion (Up 3% YOY) Mac: $7.38 billion (Down 10% YOY) iPad: $7.22 billion (Down 1.9%) Wearables:. All Rights Reserved. We continue to have supply constraints with Mac, but we're encouraged by the strong response from customers to our incredible lineup. Data is a real-time snapshot *Data is delayed at least 15 minutes. Cook said the ultimate hit came in under $4 billion. Find the latest earnings report date for apple inc. Aapl apple inc q3 2022 earnings call. Made me laugh though, so was worth it. And it continues the tremendous pace of innovation in Apple silicon for the Mac. Apple (NASDAQ:AAPL) posted a record set of Q3 FY'21 results, with revenue surging almost 36% year-over-year to $81.4 billion and earnings per share rising to $1.30, up from around $0.65 last . Commodities are behaving OK. We're seeing some price pressure on some silicon components. Then the second lever is the customer engagement. For the quarter, Apple posted revenue of $83 billion and net quarterly profit of $19.4 billion, or $1.20 per diluted share, compared to revenue of $81.4 billion and net quarterly profit of $21.7. And with our next generation of CarPlay, we're improving the driving experience with deeper integration into vehicle hardware, allowing drivers to control their music, change the temperature and monitor their fuel levels, all from a single integrated platform. Analysts see Apple's revenues climbing 23% year-over-year, the second largest year-over-year increase. Apple looking to rely on services revenues, as the production and delivery of physical products come under the spotlight thanks to logistical and supply chain issues . And they've been raving about the iPhone 13 lineup's extraordinary camera quality with features like cinematic mode and macro photography to create eye-catching content. Apple has just announced that it will release its earnings report for the third quarter of fiscal 2022 on Thursday, July 28. His clients may own shares of the companies mentioned. 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Apple, Inc. is on track to deliver close to $100 billion of net income in the fiscal year 2022 and set a new company record, which should help it move higher. The Company posted an all-time revenue record of $123.9 billion, up 11 percent year over year, and quarterly earnings per diluted share of $2.10. Thank you. As with all our articles, The Motley Fool does not assume any responsibility for your use of this content, and we strongly encourage you to do your own research, including listening to the call yourself and reading the company's SEC filings. During that quarter, Apple missed Wall Street expectations. Some of those were called out in the opening remarks between Indonesia and Vietnam and India, where we did quite well, and iPhone tends to be the engine for those markets, particularly at the beginning of creating the market there for Apple products. We also, just in this quarter, the June quarter, set a June quarter record for switchers with strong double-digit growth. Apple's gross margin exceeded the company's own forecast from April. I guess two from my side. Ben Bollin -- Cleveland Research -- Analyst. And we continue to execute across some significant geographies where there's a very low penetration of iPhone. Making the world smarter, happier, and richer. That's a big number right there that is going to affect us, that we are having some impact from the situation in Russia and that is obviously different from normal seasonality as well. Cook said Apple had success attracting Android customers to become iPhone owners during the quarter. The other item. RH (NYSE:NYSE:RH) Q3 2022 Earnings Conference Call December 08, 2022 05:00 PM ET Company Participants Allison Malkin - ICR Gary Friedman - Chairman & Chief Executive Officer Jack. Given price points and the potential stagnant growth of Apple's tablets, the company's spring hardware could drive greater sales than in Q3 2022. Copyright 2022 Surperformance. We now have more than 860 million paid subscriptions across the services on our platform, which is up more than 160 million during the last 12 months alone. And how do you see the evolution of various payment plans out of the -- you see in the U.S. now into other markets, especially emerging markets? So one of them, which you've mentioned, approximately 600 basis points of negative foreign exchange. A pple (NASDAQ:AAPL) is expected to publish its Q3 FY'21 results on July 27. We recently announced that the Global Equity Innovation Hub, in partnership with Cal State Northridge, will provide new community grants to Hispanic-serving institutions to help the next generation of creators and innovators build skills and pursue high-demand careers in STEM. Apple 's services category, which includes Apple TV+ and Apple Music, brought in $19.6 billion in revenue for the third . But I wouldn't rule anything out for the future, and obviously, we are constantly surveilling the market. Tim, I was hoping you could share a little bit more about how you're thinking about the supply headwinds. He believes that apple will report revenue of $82 billion during its q3 2022 earnings call. Mac sales were short of consensus expectations and fell over 10% on a year-over-year basis. We'll see what happens with foreign exchange rates over time. The record level of performance of our services portfolio during the June quarter reflects the strength of our ecosystem on many fronts: First, our installed base has continued to grow, reaching an all-time high across each geographic segment and major product category. We set June quarter revenue records in both developed and emerging markets and set all-time records in many countries around the world, including the U.S., Mexico, Brazil, Korea, and India. Transacting accounts, paid accounts, paid subscriptions are growing, so the level of engagement continues to grow. Apple will then host a. Jun 28, 2022 #1 apple today announced that it will report its earnings results for the third fiscal quarter (second calendar quarter) of. Cost basis and return based on previous market day close. Apple Q3 earnings: services expected to grow, but supply issues could stifle revenues. Cupertino, california july 28, 2022 apple today announced financial results for its fiscal 2022 third quarter ended june 25, 2022. And so that was what was behind application tracking transparency and a number of other features. Any insights from that would be great. Bank of America is providing iPhones to all of its financial advisors so they can instantly access client information and provide timely wealth management advice from anywhere. I know that there's been a couple of U.S. carriers that have talked about some of their customers having some difficulty paying bills. We are proud of the fact that the iOS app economy supports more than 2.2 million jobs here in the United States and many more around the world. EPS rose 24.8% compared to the year-ago quarter, marking its slowest rise since earnings declined in the final quarter of FY 2020. Around the world, we set new June quarter records in the Americas, in Europe, and rest of Asia Pacific. Investors are likely to look at how these and other recent developments have impacted Apple's earnings and revenue performance when the company reports earnings after market on Jan. 27,. But those are the three kind of reasons that I would tell you. And so we see the digital advertising cloud, if you will, continuing in the current quarter. Mophie's Powerstation Plus is an all-in-one package that will give sufficient portable power to most with a bonus or penalty of built-in cables for both Lightning and USB-C, depending on how you use it. Anything you're learning about content or how you're thinking about that opportunity? Microsoft's Surface Pro 9 updates the Windows tablet with both Intel and ARM options, in a form that competes directly with Apple's iPad Pro lineup. So I'm struggling to find a good way to think about how to model the growth of this business, considering that you add innovative features. That's just one example of something that announced last year that didn't announce this -- that we didn't have a comparable announcement this year. Apple's iPad declined 2% annually, but beat soft Wall Street forecasts, as iPad tablets were one of the product lines analysts believed that Apple might prioritize away from in the face of a chip shortage. Yes, I wouldn't want to project into this quarter. And Id have had the time to do a nicer job. Erik Woodring -- Morgan Stanley -- Analyst. CUPERTINO, California July 28, 2022 Apple today announced financial results for its fiscal 2022 third quarter ended June 25, 2022. Our supply constraints, as Tim just said, are going to be lower than what we've seen in the June quarter but they're still going to be there. iPhone revenue grew 3% year over year to a June quarter record of $40.7 billion despite foreign exchange headwinds as customer response to our iPhone 13 family continue to be strong. And so that's very important. Apple has confirmed its next earnings call is due to take place on Tuesday, July 27, where it will announce its financial results for Q3. And finally, we continue to improve the breadth and the quality of our current Services offerings, from a constant flow of new content on Apple TV+ and Apple Arcade to great new features we recently announced for iCloud and Apple Music, which we believe our customers will love. The analyst maintains his 12-month Apple price target of $185. The company posted a june quarter revenue record of $83.0 billion, up 2 percent year over year, and quarterly earnings per diluted share of. Amazing features and amazingly useless search in the help/ support area. Richard, we view privacy as a fundamental human right. Although the analyst did not offer a straight prediction about Apple's Q3, his forecast hints at upside. Apple today announced that it plans to hold its quarter three earnings call for the 2021 fiscal year on July 27, 2021. However, Apple was not as supply constrained in the year-ago quarter. For Mac, we generated revenue of $7.4 billion despite supply constraints and negative effects. I'm saying that the data doesn't show it where we can clearly see that in the Wearables, Home and Accessories area. Apple on tuesday announced that the company will report its third fiscal quarter earnings of 2022 on thursday, july 28. After they use our devices, they can bring them back and they retain much more value than other platforms. His clients may own shares of the companies mentioned. ET on July 28, 2022. Or would you say there are additional puts and takes this time around that could drive upside and downside to that? But it is an estimate. $79.26b at the low end to $88.41b at the high end. China had very good results on services last quarter. We'll report back in October. We also expanded today at Apple Creative Studios to reach even more young creatives from underrepresented communities to help them realize their potential and bring their best ideas to life. Good afternoon, and thank you for joining us. Got it. We expect opex to be between $12.9 billion and $13.1 billion. Apple will be reporting its earnings results for the third quarter of the 2022 fiscal year on Thursday, July 28 at 1:30 p.m. Pacific Time. I know you noted 600 bps year over year on FX as potentially one of those. Am i missing something? In a note to investors in July, JP Morgan's Samik Chatterjee outlined his predictions for Apple's June quarter. 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But a normal replacement, have they changed at all? Please note that some of the information you'll hear during the discussion today will consist of forward-looking statements, including, without limitation, those regarding revenue, gross margin, operating expenses, other income and expense, taxes, capital allocation, and future business outlook, including the potential impact of COVID-19 on the company's business and results of operation. $79.26b at the low end to $88.41b at the high end. The better-than-expected performance is because supply issues aren't affecting many of Apple's segments. "Katy Huberty's new price target of $180 is down from her previous target of $180." Despite the hardware challenges, Apple said it expected its entire business, as well as individual segments like Services, to continuing seeing double-digit growth in the June quarter. Please see our Terms and Conditions for additional details, including our Obligatory Capitalized Disclaimers of Liability. Products gross margin was 34.5%, down 190 basis points sequentially, mainly driven by seasonal loss of leverage, mix, and FX. As has been typical during the pandemic, Apple did not provide formal revenue guidance for the June quarter during its previous earnings report. I mentioned in my prepared remarks that we expect some deceleration from the 12% that we've had in the June quarter. Here are the key numbers compared to what Wall Street was expecting, per Refinitiv estimates: Apple did not provide formal guidance for the quarter. Previewing Apple's Q3 earnings Wall Street is, once again, expecting a blowout quarter. Because of ongoing supply chain issues and foreign exchange headwinds, Huberty believes that there is little June quarter upside. Customers and developers have been especially excited about the new features we're bringing to iPad with iPadOS 16. And that was either running at a reduced rate or down completely for the majority of the quarter. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. But is there a way to kind of think about the impact of the market overall on the Mac business versus the supply chain? However, GameStop is still sitting on a large cash pile of about $1 billion about . So these are all things that tend to help us over the long term. ET. Join us here on July 30, 2020 at 2:00 p.m. PT / 5:00 p.m. Though it didn't provide revenue guidance, Apple did say it expects gross margins between 41.5% and 42.5% and operating expenses between $11.1 billion and $11.3 billion. Obviously, when I drop and break my phone, I replace it immediately. In 2021, we prevented nearly $1.5 billion in fraudulent transactions by stopping over 1.6 million risky and vulnerable apps and app updates. Yes, Amit. And just given the uncertainty that you've talked about in the macro further on this call a lot, how are you thinking about sort of that investment base going forward? Jim, I would say we provide guidance for the current quarter. At this time, for opening remarks and introductions, i. Both of these systems are powered by M2, our next generation of Apple silicon for Mac. Apple's other products category, which includes headphones like AirPods, Apple Watches, and HomePod speakers declined over 8% on an annual basis and missed Wall Street expectations. There are things you can do to fix that, but MacCleaner Pro does most of it and does it well. We'll take our next question from Krish Sankar with Cowen and Company. This update was one of the many announcements we made at a truly extraordinary WWDC, where we shared a range of new features that give customers more control of their experience than ever before. However, the reported figure decreased 7.7% year over year. The iPhone 14, for example, could see stronger sales numbers than the last generation. And they're providing incredible AR experiences for millions of people. Apple did not provide formal guidance for the quarter. And congrats on the results in this tough macro. So can you just walk us through some of the various factors you believe are driving this continued iPhone strength? After that, we'll open the call to questions from analysts. Apple said it spent over $28 billion on share buybacks and dividends during the quarter. Yet we remain ever focused on the same vision that has guided us from the beginning. And Wearables, Home, and Accessories, as you mentioned and as Luca mentioned, we did see some impact there that we would attribute to a macroeconomic environment. First of all, congratulations. Apple (NASDAQ:AAPL) is expected to publish its Q3 FY'21 results on July 27. And then I have a follow-up on Macs. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. ", Cathie Wood says the Fed is making a serious mistake as bond market flashes worst signal since 1980s, Tech wreckage catches up to Salesforce as cloud giant's valuation reaches parity to Microsoft's, 'A gift to investors': BlackRock says it's time to rethink bonds. Total sales in Apple's fiscal 2022. "We had a record level of switchers and saw double digit growth for customers new to iPhone," Cook said. You said that implying gross margin will be down I think, 130, 140 basis points sequentially and down a bit year over year as well in September. Here's how the two flagship earbuds stack up. And should we still expect double-digit growth? If you could give us some insights on the kind of longer-term nature of the directions or the gross margin impacts. And I think about 90 days ago, you were pretty confident with the new M2 chip that you could continue to grow throughout a potential drawdown in that particular market. But the negative 10 I would classify as being driven by supply. And we're bringing them even more data about their workouts, sleep cycles, and medications with updates soon to arrive on watchOS 9. Release Date Period End EPS / Forecast Revenue . 5G has been an accelerant. At this time, for opening remarks and introductions, i. Condensed consolidated statements of operations (unaudited) (in millions, except number of shares which are reflected in thousands and per share amounts) three months ended nine months ended june 25, 2022 june 26, 2021 june 25, 2022 june 26, 2021 net sales: The analyst believes apple will outperform wall street expectations despite the rough macro environment. 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