Apple is scheduled to share its Q2 2021 earnings on April 28, after the market closes. And a day before, analysts are estimating that the company is likely to see more than 50% growth in its earnings per share.
In Q1 2021, the company reported its best quarter of all time with $111.4 billion in revenue. The official numbers were a lot higher than what the analysts had predicted in terms of product growth, earnings, and more. With 21% revenue growth, the company earned a record operating cash flow of $38.8 billion and returned over $30 billion to shareholders.
And the reason for the impressive Year-on-Year growth in sales of various products like Mac, iPhone, iPad, Apple Watch, accessories, and services was accredited to delivering a variety of new innovative technology. The 5G iPhone 12 series was the leading product with 17% Y-o-Y growth generated $65.6 billion. Based on even more new products, analysts are expecting 53.1% to 68.8% growth in earnings per share.
Ahead of Apple’s Q2 2021 earnings report, analyst predict promising growth in revenue
The aggregated estimates shared by Ped30 show revenue forecasts by four types of analysts. Starting with the highest, independent analysts estimate 36.80% growth and are followed by professional analysts who estimate 35.00% revenue growth. However, 353 analysts estimate 34.90% growth in the crowdsourced Estimize and lastly, 27 analysts in Thomson Financial predict 32.2% growth, which is the lowest estimate.
With those figures, the revenue is expected to jump from $58.31 billion in the same quarter last year to approximately between $79.77 billion to $77.10 billion in Q2 2021.
At the announcement of Q1 2021, Apple CEO Tim Cook said:
“This quarter for Apple wouldn’t have been possible without the tireless and innovative work of every Apple team member worldwide. We’re gratified by the enthusiastic customer response to the unmatched line of cutting-edge products that we delivered across a historic holiday season.
We are also focused on how we can help the communities we’re a part of build back strongly and equitably, through efforts like our Racial Equity and Justice Initiative as well as our multi-year commitment to invest $350 billion throughout the United States.”
Despite the operational and manufacturing difficulties faced by the company due to the COVID-19 pandemic, the Cupertino tech giant introduced several new products in the market which were helpful in adjusting to the new normal of social distancing and work from home orders. It is yet to be seen if the company continues to impress the market.