The company is expected to post earnings of $1.13 per share for the August quarter, on an adjusted basis, which represents an improvement from the prior-year period when it incurred a loss of $1.07 per share. The positive forecast reflects an estimated surge in revenues to $7.63 billion.
In the third quarter, revenues jumped to $6.81 billion from $3.75 billion in Q3 2023. The tech firm reported earnings of $0.62 per share for the May quarter, excluding special items, compared to a loss of $1.43 per share a year earlier. Both revenue and profit beat Wall Street’s estimates.