Apple primed to again beat earnings estimates
Apple has an established record of topping earnings estimates, especially when looking at the previous two reports. The company boasts an average surprise for the past two quarters of 2.90%.
For the last reported quarter, Apple came out with earnings of $1.40 per share versus the Zacks Consensus Estimate of $1.34 per share, representing a surprise of 4.48%. For the previous quarter, the company was expected to post earnings of $1.51 per share and it actually produced earnings of $1.53 per share, delivering a surprise of 1.32%.
Apple has an Earnings ESP of +1.94% at the moment, suggesting that analysts have grown bullish on its near-term earnings potential. When you combine this positive Earnings ESP with the stock’s Zacks Rank #3 (Hold), it shows that another beat is possibly around the corner.
Apple’s conference call to discuss fourth fiscal quarter earnings results and business updates is scheduled for Thursday, October 31, 2024 – yes, Halloween – after market close, right around 1:20 p.m. PT / 4:30 p.m. ET.
Apple will follow that with a conference call with analysts to discuss results and business updates at 2:00 p.m. PT / 5:00 p.m. ET.
Listen to the conference call live here.
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Currently, analysts’ consensus expects revenue of $94.4 billion and EPS of $1.57.
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Source link: https://macdailynews.com/2024/10/08/apple-primed-to-again-beat-earnings-estimates/
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