Apple announced today that it will disclose the company’s quarterly earnings for the fourth quarter of 2018 on November 1. At that time, company executives may disclose the initial sales of the iPhone XS and iPhone XS Max.
Like previous earnings conference calls, Apple CEO Tim Cook and Chief Financial Officer Luca Maestri are expected to provide a detailed analysis of the past three months to September. They will also answer questions from investment analysts. However, given the time constraints, the fourth quarter financial report is unlikely to show a substantial impact of the iPhones and iPhone Watch 4 which debuted last month.
In June of this year, Apple ushered in the best quarter in history. With the support of 41.3 million iPhone sales, Apple achieved $53.3 billion in revenue. With the increase in sales of high-end mobile phones, iPhone’s revenue for the quarter reached $29.9 billion, an increase of 20% from $24.8 billion in 2017. The high-end iPhone X continues to maintain Apple’s position as the most popular iPhone model, driving the average price of Apple smartphones to $724.
The service business also grew during the same period, achieving double-digit growth for the 13th consecutive quarter. Wearables, including products such as Apple Watch and AirPods, have grown by 60% in the past three months. Cook said at the time: “Our third-quarter results are driven by continued strong sales of iPhones, services, and wearables, and we are very excited about the products and services we are developing.”
The news about Apple’s quarterly results is amazing. After that, Apple’s share price rose to $200 for the first time since its spin-off four years ago. Apple also became the first US company with a market capitalization of $1 trillion. Apple expects revenue for the September quarter to be between $600 and $62 billion, with gross margins ranging from 38% to 38.5%.