• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

The U.S. spent $30 billion to ditch textbooks for laptops and tablets: The result is the first generation less cognitively capable than their parents

2

Peter Thiel and other tech billionaires are publicly shielding their children from the products that made them rich

3

A Trump Account could make your kid a millionaire by 45—but financial experts say the app's projections come with a catch

1

The U.S. spent $30 billion to ditch textbooks for laptops and tablets: The result is the first generation less cognitively capable than their parents

2

Peter Thiel and other tech billionaires are publicly shielding their children from the products that made them rich

3

A Trump Account could make your kid a millionaire by 45—but financial experts say the app's projections come with a catch
Apple

Handicapping Apple’s quarterly earnings and revenue: Q3 2014

By
Philip Elmer-DeWitt
Philip Elmer-DeWitt
Down Arrow Button Icon
By
Philip Elmer-DeWitt
Philip Elmer-DeWitt
Down Arrow Button Icon
July 20, 2014, 7:55 AM ET
Add Fortune on Google for similar content.

Just because Tim Cook prefers to be straight with analysts — offering them more “realistic” revenue guidance than the low-ball numbers Steve Jobs used to feed them — doesn’t mean Apple can’t deliver earnings surprises anymore.

In April, for example, Apple reported fiscal Q2 earning per share of $1.66 (adjusted for June’s 7-to-1 split), nearly 15% above the Street’s $1.45 consensus.

Apple doesn’t give EPS guidance anymore, but for the quarter that ended June 28 the company told the Street to expect revenues to come in between $36 billion and $38 billion.

The consensus among the more than two dozen analysts polled by Fortune — 15 Wall Street professionals and 12 amateurs — is that Apple will report revenues of $38.4 billion. The amateurs, as usual, are more bullish than the pros, although the gap between the two has narrowed considerably over the past two and a half years.

We’ll find out who was closest to the mark when Apple reports its fiscal Q3 2014 earnings after the markets close on Tuesday.

Below: Their recent track records.

Handicapping q3 2014

See also: How many iPhones, iPads and Macs did Apple sell last quarter?

Follow Philip Elmer-DeWitt on Twitter at @philiped. Read his Apple (AAPL) coverage at fortune.com/ped or subscribe via his RSS feed.

About the Author
By Philip Elmer-DeWitt
See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in

Robinhood built a blockchain for real-world assets. Memecoin traders showed up for the cat coin instead
NewslettersFortune Crypto
Robinhood built a blockchain for real-world assets. Memecoin traders showed up for the cat coin instead
By Ben WeissJuly 13, 2026
60 minutes ago
Millionaires’ playground Marbella wants to become a tech hub
EuropeSpain
Millionaires’ playground Marbella wants to become a tech hub
By Sabrina Nelson Garcinuño and BloombergJuly 13, 2026
1 hour ago
President Donald Trump speaks during the swearing-in ceremony for the new Chairman of the Federal Reserve, Kevin Warsh (L) in the East Room of the White House on May 22, 2026 in Washington, DC.
EconomyIran
Oil prices march upward again as the U.S-Iran conflict intensifies—and it’s yet another headache for Warsh and the Fed
By Eleanor PringleJuly 13, 2026
1 hour ago
Why corporate strategy is moving to the CFO’s office
AICFO Daily
Why corporate strategy is moving to the CFO’s office
By Sheryl EstradaJuly 13, 2026
1 hour ago
Top CD rates from major banks July 13, 2026: Chase CDs, Bank of America CDs, Citibank CDs, and more
Personal FinanceCertificates of Deposit (CDs)
Top CD rates from major banks on July 13, 2026: Chase CDs, Bank of America CDs, Citibank CDs, and more
By Joseph HostetlerJuly 13, 2026
1 hour ago
Max Buchan on stage holding a microphone
Startups & VentureTerm Sheet
Valarian raises $50 million to help governments and enterprises escape America’s cloud grip
By Lily Mae LazarusJuly 13, 2026
2 hours ago

Most Popular

The U.S. spent $30 billion to ditch textbooks for laptops and tablets: The result is the first generation less cognitively capable than their parents
Innovation
The U.S. spent $30 billion to ditch textbooks for laptops and tablets: The result is the first generation less cognitively capable than their parents
By Sasha RogelbergJuly 12, 2026
24 hours ago
Peter Thiel and other tech billionaires are publicly shielding their children from the products that made them rich
Big Tech
Peter Thiel and other tech billionaires are publicly shielding their children from the products that made them rich
By Marco Quiroz-GutierrezJuly 12, 2026
1 day ago
A Trump Account could make your kid a millionaire by 45—but financial experts say the app's projections come with a catch
Personal Finance
A Trump Account could make your kid a millionaire by 45—but financial experts say the app's projections come with a catch
By Sydney LakeJuly 12, 2026
1 day ago
The U.S. and Iran can't agree on fully reopening the Strait of Hormuz. The solution could be straight out of the Old Testament
Middle East
The U.S. and Iran can't agree on fully reopening the Strait of Hormuz. The solution could be straight out of the Old Testament
By Jason MaJuly 11, 2026
1 day ago
Wyoming officials say Meta’s 715,000-square-foot data center is responsible for contaminating its water system with a rare bacterium
Environment
Wyoming officials say Meta’s 715,000-square-foot data center is responsible for contaminating its water system with a rare bacterium
By Sasha RogelbergJuly 10, 2026
3 days ago
Trump’s time is running out to avoid a nightmare Strait of Hormuz scenario
Energy
Trump’s time is running out to avoid a nightmare Strait of Hormuz scenario
By Jordan BlumJuly 12, 2026
1 day ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.