Apple is expected to report a near five per cent boost in sales in its fiscal second quarter results

 
Shruti Tripathi Chopra
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Apple will report its fiscal second quarter results after the market close tomorrow (Source: Getty)

Apple is expected to report a near five per cent boost in sales in its fiscal second quarter results due to be announced tomorrow.

Consensus on Wall Street is for adjusted earnings of $2.02 a share on a near five per cent bump in net sales to $53bn (£41bn). Revenue from the App Store and other services such as Apple Music will likely jump 20 per cent to $7.2bn, according to UBS analyst Steven Milunovich.

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In a note to clients JPMorgan analyst Rod Hall wrote: "We remain bullish on Apple in 2017 given what we believe is unprecedented pent-up replacement demand, combined with expectations for a materially different iPhone product this year."

In January, Apple said it expected revenue of between $51.5bn and $53.5bn in the second fiscal quarter of the year.

The tech giant smashed investor expectations in January to post its best ever quarterly revenue in the first quarter on the back of record-breaking sales of its iPhone.

The world’s largest publicly listed company saw revenue for the quarter increase to $78.4bn, a rise of $2.5bn from the previous year. Net income fell to $17.9bn in the quarter from $18.36bn the previous year.

In March, Apple launch a special edition red-coloured iPhone 7 and iPhone 7 Plus as part of its tie-up with (Product)Red, which raises money to help fight Aids and HIV in Africa.

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