Apple To Announce Q2 2020 Earnings At End Of The Month

Apple today announced that its Q2 2020 (first calendar quarter of 2019) earnings call will be held at 2 pm Pacific time on April 30th. As in the past, the fiscal report will be dropped ahead of the call, offers us a general idea of how well did Apple do in the quarter.

Due to the ongoing COVID-19 pandemic, Apple said in a press release in February that it would not meet its revenue goals citing constrained iPhone supplies worldwide and lower customer demand for Apple products in China and elsewhere as the main impacts on performance for the quarter. Also, the company have so far closed all of its retail stores outside of China, so the impact may be even greater.
Our quarterly guidance issued on January 28, 2020 reflected the best information available at the time as well as our best estimates about the pace of return to work following the end of the extended Chinese New Year holiday on February 10. Work is starting to resume around the country, but we are experiencing a slower return to normal conditions than we had anticipated. As a result, we do not expect to meet the revenue guidance we provided for the March quarter due to two main factors.
Apple expect revenues of between $63.0 billion and $67.0 billion in the March quarter, with the gross margin between 38.0 percent and 39.0 percent, operating expenses between $9.6 billion and $9.7 billion, other income/(expense) of $250 million, and tax rate of approximately 16.5 percent in the next quarter.

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