Apple to report Q1 2023 earnings results on February 2
Apple has announced that it will report its earnings results for the first fiscal quarter of 2023 on February 2, revealing financial and business performance over the holiday period, which saw heavy supply constrains of the iPhone 14 Pro series and a lack of available stock for the peak shopping season.
The Q1 2023 results will cover the period where the iPhone makers’s market valuation dropped below $2 trillion as shares declined to their lowest value since June 2021 at $125.07, with the earnings results showing how badly the product supply constrains and ongoing global economic difficulties have impacted Apple’s cashflow in the fourth calendar quarter.
It has been reported that the shortages could have seen Apple ship 20 million units lower than expected over the fourth quarter of 2022, with respected industry analyst Ming-Chi Kuo lowering his iPhone shipments forecast for the holiday quarter by 20% to 70-75 million units, down from 80-85 million units previously.
The call, which customarily is chaired by Apple CEO Tim Cook and Chief Financial Officer Luca Maestri will be held at 2:00 p.m. PT / 5:00 p.m. ET with Apple releasing its full earnings report 30 minutes prior. In typical fashion, Cook and Maestri will take part in a short question and answer session with investors afterwards, which will also be available to stream live on Apple.com.