Apple (AAPL) Tops Q1 EPS by 21c; Revenues Beat

Apple (NASDAQ: AAPL) reported Q1 EPS of $2.10, $0.21 better than the analyst estimate of $1.89. Revenue for the quarter came in at $123.9 billion versus the consensus estimate of $118.28 billion.

"This quarter’s record results were made possible by our most innovative lineup of products and services ever,” said Tim Cook, Apple’s CEO. “We are gratified to see the response from customers around the world at a time when staying connected has never been more important. We are doing all we can to help build a better world — making progress toward our goal of becoming carbon neutral across our supply chain and products by 2030, and pushing forward with our work in education and racial equity and justice.”

“The very strong customer response to our recent launch of new products and services drove double-digit growth in revenue and earnings, and helped set an all-time high for our installed base of active devices,” said Luca Maestri, Apple’s CFO. “These record operating results allowed us to return nearly $27 billion to our shareholders during the quarter, as we maintain our target of reaching a net cash neutral position over time.”

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