For its fiscal second quarter, Apple is anticipated to report $1.43 in earnings per share on $92.97 billion in gross sales, a 4.4% decline yr over yr, in response to Refinitiv consensus estimates.
When Apple reviews quarterly earnings on Thursday, the outcomes are anticipated to be considerably muted — the corporate already guided buyers to a 5% income decline due largely to decreases in Mac and iPad gross sales.
However Apple will nonetheless remind buyers of its mammoth dimension and market energy, as the corporate makes use of its fiscal second-quarter report to inform buyers how a lot the board has approved it to spend on share buybacks and dividends.
Wall Road expects that quantity to return in at $90 billion, equal to final yr’s authorization determine, based mostly on a compilation of analyst reviews.
The iPhone maker has been the buyback king over the previous decade. From 2012 by the tip of 2022, Apple spent over $572 billion on share repurchases, essentially the most of any firm, in response to FactSet information. Since 2013, Apple has introduced board authorization ranges in its second-quarter earnings report.
Analysts on common anticipate Apple’s income within the third quarter to extend about 2% to $84.7 billion, in response to Refinitiv.
Samik Chatterjee, an analyst at JPMorgan, mentioned even when the outlook is mushy, Apple may profit from “flight to security” positioning.
MacDailyNews Take: Apple shareholders: Might the 4th be with you!
We predict $90 billion in buybacks and a $0.24 per share dividend. – MacDailyNews, April 17, 2023
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