For its fiscal second quarter, Apple is expected to report $1.43 in earnings per share on $92.97 billion in sales, a 4.4% decline year over year, according to Refinitiv consensus estimates.
When Apple reports quarterly earnings on Thursday, the results are expected to be somewhat muted — the company already guided investors to a 5% revenue decline due largely to decreases in Mac and iPad sales.
But Apple will still remind investors of its mammoth size and market power, as the company uses its fiscal second-quarter report to tell investors how much the board has authorized it to spend on share buybacks and dividends.
Wall Street expects that number to come in at $90 billion, equal to last year’s authorization figure, based on a compilation of analyst reports.
The iPhone maker has been the buyback king over the past decade. From 2012 through the end of 2022, Apple spent over $572 billion on share repurchases, the most of any company, according to FactSet data. Since 2013, Apple has announced board authorization levels in its second-quarter earnings report.
Analysts on average expect Apple’s revenue in the third quarter to increase about 2% to $84.7 billion, according to Refinitiv.
Samik Chatterjee, an analyst at JPMorgan, said even if the outlook is soft, Apple might benefit from “flight to safety” positioning.
MacDailyNews Take: Apple shareholders: May the 4th be with you!
We predict $90 billion in buybacks and a $0.24 per share dividend. – MacDailyNews, April 17, 2023
Please help support MacDailyNews. Click or tap here to support our independent tech blog. Thank you!
Support MacDailyNews at no extra cost to you by using this link to shop at Amazon.
The post What Wall St. expects from Apple’s earnings after market close appeared first on MacDailyNews.
