Apple (AAPL) Tops Q1 EPS by 5c; Guides Q2 Revs Below the Street

(Updated - January 26, 2016 4:37 PM EST)

Apple (NASDAQ: AAPL) reported Q1 EPS of $3.28, $0.05 better than the analyst estimate of $3.23. Revenue for the quarter came in at $75.9 billion versus the consensus estimate of $76.59 billion.

Gross margin was 40.1 percent, essentially in-line with the Street.

The company sold 74.78 million iPhones in the quarter, also essentially in-line with the Street.

The company sold 16.1 million iPads. They sold 5.3 million Macs. The company sold 'other products', which included sales of Apple Watch, of 4.35 million.

GUIDANCE:

Apple sees Q2 2016 revenue of $50-53 billion, versus the consensus of $55.64 billion. The company sees Q2 gross margin between 39 percent and 39.5 percent.

“Our team delivered Apple’s biggest quarter ever, thanks to the world’s most innovative products and all-time record sales of iPhone, Apple Watch and Apple TV,” said Tim Cook, Apple’s CEO. “The growth of our Services business accelerated during the quarter to produce record results, and our installed base recently crossed a major milestone of one billion active devices.”

“Our record sales and strong margins drove all-time records for net income and EPS in spite of a very difficult macroeconomic environment,” said Luca Maestri, Apple’s CFO. “We generated operating cash flow of $27.5 billion during the quarter, and returned over $9 billion to investors through share repurchases and dividends. We have now completed $153 billion of our $200 billion capital return program.”

For earnings history and earnings-related data on Apple (AAPL) click here.

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