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Apple will reveal the results of its earnings over the holiday quarter – between September and December 2016 – today at 1.30pm Pacific Time.
Revenue is projected by Apple to be between $76 billion and $78 billion. This would signal a return to growth after three quarters of consecutive decline. Previously, Apple had notched up 51 consecutive quarters of growth – since 2001.
Many had questioned whether the iPhone 7 would provide the numbers required for a return to growth. Though the device introduced some key new upgrades and enhancements, it kept the form factor of its previous two iterations for an unprecedented third run.
However, the inclusion of a dual camera on the Plus model is believed to have led to an increased popularity in the larger model. Furthermore, Apple has seen significant growth in Apple Music, plus the launch of a new MacBook Pro, Apple Watch and other services and products.
Apple’s projection would also put the company in record-breaking territory. Its previous record quarter was a year previous – with the release of the 6s – which saw Apple achieve $75.9 billion in revenue, before tailing off.
Wall Street analysts are largely supportive of Apple’s projection, projecting themselves at around the mid-point of Apple’s range. Though the likes of Above Avalon has posited what would be a very impressive $80 billion in revenue.
Apple CEO Tim Cook, alongside CFO Luca Maestri will make a conference call with investors following the results at 2pm Pacific Time. We’ll be covering Cook’s thoughts on the earnings result in full following the call.