Apple’s fiscal third-quarter results are expected to be released on Friday and a consensus of analysts expected a 9% decline in revenue and earnings per share.
However, Bloomberg News reports that Cook will give a much different presentation than the consensus.
Cook will call for a 10% decline on revenue and EPS, and will reiterate his belief that Apple will still achieve its current financial results and be profitable for the next several years.
“We are on track to deliver a 9%-10% year-over-year revenue and profit growth,” Cook told analysts.
Apple also expects to beat its earnings guidance for the first time in four years.
Cook’s company has posted strong quarterly revenue growth in recent years, with the company growing revenues for the quarter by 25% year over year.
Analysts are anticipating Apple to record a $24 billion profit this quarter, up from the $20 billion forecast Cook had previously made.
The company has been steadily growing revenue for Apple’s latest iPhone and iPad, which launched in September.
However Cook has said he believes Apple’s margins are too low to justify continued investment in the device and is expected to call for the company to invest in new products and technology.
Apple has already unveiled its new iPhone X smartphone, which will feature a 5.5-inch OLED display, a larger battery and a faster processor.
The iPhone X will be available in three colors: Black, White and Rose Gold.
Apple will also introduce a new iPhone 8 model that will feature an 8-inch screen and a larger, curved display.