Apple Set to Release First Quarter 2014 Results

CNN Money Q1 2014 1Apple has just released information regarding their quarterly earnings call to be held today at 2:00 p.m. PT. During this conference call, Apple CEO, Tim Cook and CFO, Peter Oppenheimer are scheduled to report on sales of iPhone, iPad, and iPod touch units for the first fiscal quarter of 2014, which just ended and includes the holiday shopping season.

Similar to the report that CNN Money gave last week on predicted iPad sales for the mentioned quarter, the firm also recently reported on overall predictions for Apple’s earnings during Q1 2014. Even though analysts tend to preach Apple’s untimely doom on a regular basis, the consensus is that the iPad maker will see an increase in earnings of four percent from the same quarter last year.

According to the data collected from 47 analysts, including 29 Wall Street professionals and 18 Internet amateurs, earnings for Apple will reach approximately $14.36 per share on sales of $58.1 billion. These numbers represent year-over-year growth of four percent for earnings and 6.6 percent for revenue.

Apple has reported negative earnings for the past three quarters in a row. This increase in earnings is a positive sign for the company. This past holiday season, Apple launched the completely redesigned iPad Air, alongside the second-generation iPad mini, which for the first time has a Retina display. Although stunted at launch, Apple managed to have enough of the smaller sized tablet available during the holiday season. It is likely that the availability of the new models of iPad contributed to the overall growth of the company’s earnings.

The conference call will take place today at 2:00 p.m. PT. We will be on-hand to report on what Apple announces.

Below is a breakdown of the individual analysts for the first quarter 2014 estimates. The professionals are in blue and the amateurs are in green. Apple’s guidance is in red.

CNN Money Q1 2014 2

About Lory: Writer of all things app related, traveler of the space-time continuum, baker of really great cookies. Follow me @appaholik