The consensus earnings estimate for Q1 is $1.91 per share, which represents a decline from the $2.03/share reported in the first quarter of 2023. Analysts are looking for revenues of $6.48 billion for the January quarter, compared to $6.74 billion in the year-ago period. In the trailing six quarters, earnings and revenues beat estimates consistently and the trend is likely to continue.
In the fourth quarter of 2023, the company’s adjusted earnings rose to $2.12 per share from $2.03 per share in the same period of 2022. Net income, including special items, was $2.0 billion or $2.38 per share in the October quarter, compared to $1.59 billion or $1.85 per share a year earlier.