Apple likely to report a return to revenue growth when it announces its latest financial results on Thursday

When Apple announces its latest fiscal results on Thursday, it will likely report that it returned to revenue growth in its fiscal third quarter as it won back some customers in China with big iPhone discounts and sold more high-margin iPads thanks to a refreshed design, reports Reuters.

Sales of the iPhone, which account for nearly half of Apple’s revenue, are expected to have decreased by 2.2% in the three months ended June, a big improvement from the 10.5% decline in the second quarter, according to LSEG data. Apple will announce its fiscal 2024 third quarter results tomorrow at 2 pm (Eastern).

Apple has not provided formal guidance since early 2020, but analysts expect the company to report quarterly revenue of $77.2 billion on average, according to Yahoo Finance. Apple reported $81.8 billion revenue in the year-ago quarter.

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