Apple Digest: Apple Reports Quarterly Earnings on Tuesday, July 19 (Financial Charts) *Financial Performance Review* AAPL

●●●

Apple will report Q2 2011 financial results on Tuesday, July 19, 2011

Apple Financial Performance Review

Apple will be reporting Q2 2011 financial results on Tuesday, July 19, after market close and usually just before the earnings conference call. The conference call will be at 2:00 p.m. PT.

Apple financial performance charts for prior quarters have been posted on the Apple Financial Performance page and will be updated for this next quarterly report.

The charts are:

Apple Performance by the Quarters

Earnings per Share (Diluted) and Cash Flow per Share

Total Revenues, Operating Income, Net Income

Gross Margin, Operating Margin, Net Margin

Return on Assets

Total Revenues and Earnings per Share Growth Rates

Geographic Revenues

Product Revenues

Apple Future and Past Financial Performance

Current Q2 2011 Analysts' Estimates

Yahoo Finance analysts' estimates for calendar Q2 2011 are:

Total Revenues: $24.70B average, $23.00B low estimate, $26.20B high estimate, 47 analysts

Earnings per Share: $5.70 average, $5.03 low estimate, $6.42 high estimate, 50 analysts

Current Q2 2011 Apple Outlook

CFO Peter Oppenheimer provided guidance for the calendar Q2 2011 quarter: total revenues $23 billion, gross margin 38%, earnings per share $5.03. Apple usually provides low guidance and beats.

Prior Q1 2011 Financial Results

When Apple reports calendar Q2 2011, the 3 months ended June, financial results on July 19, Apple should meet or beat various Q1 2011 results. These results are charted on the Apple Financial Performance page. Apple for Q1 2011, the 3 months ended March, financial results were:

Total Revenues $24.667B

Operating Income $7.874B

Net Income $5.987B

Earnings per Share (Diluted) $6.40

Cash Flow per Share $6.64

Gross Profit Margin 41.42%

Operating Income Margin 31.92%

Net Income Margin 24.27%

Summary

Apple should beat their own Q2 2011 outlook ($5.03 earnings per share). The question is how much higher than $5.00 per share Apple will report. The analysts' average EPS is $5.70, which Apple will probably beat. For Q2 2011, Apple should beat on Total Revenues, Operating Income, Net Income, Earnings per Share, and Cash Flow per Share. Apple should match or be just slightly below on Gross Profit Margin, Operating Income Margin, and Net Income Margin. Overall, Q2 2011 is expected to exceed Q1 2011. Apple is expected to at least match the Apple Outlook Q2 Gross Profit Margin (38.00%), considering the Q1 2011 margin was an astounding 41.42% and well above the Q4 2010 margin of 38.51%. The detailed quarter by quarter charts are on the Apple Financial Performance page.

More Charts and Analysis!