Drew Angerer/Getty Images
Wall Street has muted expectations for Apple’s latest earnings report.
The electronics giant is slated to announce its fiscal third quarter results after the market closes on Tuesday. On average, the analysts polled by Bloomberg expect Apple to report that its profit fell from the year-earlier period on flat sales.
Apple has been struggling with a slump in demand in China that analysts attribute to both the high costs of its phones and to growing economic nationalism among Chinese consumers. In the first half of its current fiscal year, Apple saw sales in its greater China region, which includes Hong Kong and Taiwan as well as the Chinese mainland, fall by more than 20%.
Here’s what analysts are expecting and how those forecasts compare with Apple’s year-earlier results:
- Q3 Revenue: $53.4 billion. In the same period a year ago, the company posted sales of $53.3 billion.
- Q3 earnings per share (GAAP): $2.10. In its third quarter last year, Apple earned $2.34 a share.
- Q4 Revenue: $61 billion. Last year, Apple saw sales of $62.9 billion in its fourth quarter.
- Q4 EPS: $2.69. The iPhone maker earned $2.91 a share in the same period of 2018.
In afternoon trading leading up to Apple’s report, its shares were little changed. In recent trading, its stock price was up 7 cents, or less than 1%, to $209.75.
We will be updating this story after Apple reports its results. Refresh this page or click here for updates.
NOW WATCH: How Area 51 became the center of alien conspiracy theories
See Also:
- Apple’s iPhone Face ID will meet its match with Google’s Pixel 4 smartphone expected in October
- This new iPhone feature addresses a big annoyance with browsing the web on your smartphone
- These 8 pro gamers became instant millionaires at the ‘Fortnite’ World Cup this past weekend, and the biggest winner is just 16 years old
SEE ALSO: Apple already has a China problem. Here’s why it could get worse.
Source: Business Insider – twolverton@businessinsider.com (Troy Wolverton)