Apple (AAPL) Tops Q1 EPS by 14c, Sales and iPhones Beat

(Updated - January 31, 2017 4:33 PM EST)

Apple (NASDAQ: AAPL) reported Q1 EPS of $3.36, $0.14 better than the analyst estimate of $3.22. Revenue for the quarter came in at $78.4 billion versus the consensus estimate of $77.38 billion.

The company sold 78.29 million iPhone units versus the consensus of 77 million.

The company sees Q2 revenue between $51.5 billion and $53.5 billion, versus the consensus of $53.94 billion. It also sees Q2:

• gross margin between 38 percent and 39 percent
• operating expenses between $6.5 billion and $6.6 billion
• other income/(expense) of $400 million
• tax rate of 26 percent

“We’re thrilled to report that our holiday quarter results generated Apple’s highest quarterly revenue ever, and broke multiple records along the way. We sold more iPhones than ever before and set all-time revenue records for iPhone, Services, Mac and Apple Watch,” said Tim Cook, Apple’s CEO. “Revenue from Services grew strongly over last year, led by record customer activity on the App Store, and we are very excited about the products in our pipeline.”

“Our outstanding business performance resulted in a new all-time record for earnings per share, and over $27 billion in operating cash flow,” said Luca Maestri, Apple’s CFO. “We returned nearly $15 billion to investors through share repurchases and dividends during the quarter, bringing cumulative payments through our capital return program to over $200 billion.”

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

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