Apple Q2FY2022 Earnings Call Set for Thursday 28 April
30 MARCH 2022 - Remember when Apple earnings calls were just an hour of excitement? Analysts would way under-guess Apple performance, then Apple CFO Peter Oppenheimer would announce numbers that would kick down the door and blow off the roof. The supply chain was just a vague notion for most of us, and world-girding pandemics were the stuff of movies I would avoid.
Oh, to be young again.
Anyhoo, Apple has set the date for its next earnings report. 9 to 5 Mac says the company will let fly with Q2FY2022 numbers on Thursday 28 April. What are we expecting? As has been the way for a couple of years now, Apple did not provide financial guidance for the March-quarter on its last call, though CFO Maestri did offer “directional insights,” based on the assumption that the world wasn’t gonna get any worse. I said then that it felt like he was tempting fate. No, I’m not blaming Maestri for Russia invading Ukraine, I’m just saying look what happens when you assume. At the time, the CFO said:
Apple expected to see year-over-year revenue growth and to set a March-quarter revenue record
The company expected constraints to ease in the supply chain
While revenue would grow, that growth was expected to slow for a couple of reasons - those being foreign exchange headwinds and a tough compare tied to the late launch of the iPhone 12 line in late 2020.
Services revenue was expected to grow, but that growth would also slow, driven by fewer lockdowns this year than last.
It sort of feels like inflation plus Russia’s invasion of Ukraine call those expectations into question. Then again, that’s why they’re color, not guidance.
As for when we’ll hear what we’ll hear next, numbers will hit Apple’s site after the close of trading at 1:30 Pacific/4:30 Eastern on Thursday 28 April. Then, Apple CEO Tim Cook, Apple CFO Luca Maestri, and various financial analysts will do the conference call thing. That goes off at 2PM/5PM.
You can can be part of the fun, streaming the call as it happens on Apple’s Investor site. If that time’s no good for you, or if you just want to hear it again, Apple will make it available as a podcast soon after. Bloggers will Blog. Twitters will tweet. And we will hit highlights here, on Friday 29 April.
