Apple to release fiscal Q3 financial results July 23

Apple executives will discuss the company’s financial performance for its fiscal third quarter in a July 23 conference call, according to an update made Monday to the company’s investor relations page.

Credit: James Martin/CNET

The call, which as usual will offer an audio stream online, is expected to cover the company’s revenue and sales figures for the fiscal quarter that ended in late June. CEO Tim Cook and CFO Peter Oppenheimer will likely be on hand to provide a financial forecast for the next quarter.

Apple surprised Wall Street in April with stronger-than-expected earnings in its fiscal second quarter, reporting $43.6 billion in sales thanks to strong iPhone and iPad sales. Apple said it sold 37.4 million iPhones during the quarter, well above the average of 34 million that Wall Street expected.

However, Apple has trimmed its iPhone build orders for the rest of 2013, according to analyst Peter Misek, cutting orders for the calendar third quarter to 25 million to 30 million from 40 million to 45 million previously. And orders for the fourth quarter will drop to 50 million to 55 million from 60 million to 65 million, he wrote.

Apple said in April that it expected its fiscal third-quarter sales to come in between $33.5 billion and $35.5 billion.

The conference call is scheduled to begin at 2 p.m. PT and will be streamed through the company’s investor relations page. Check back with CNET on July 23 for full coverage and analysis of the financial report.

Source: http://news.cnet.com/8301-13579_3-57591897-37/apple-to-release-fiscal-q3-financial-results-july-23/

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