Apple (AAPL) Tops Q1 EPS by 1c
(Updated - January 29, 2019 4:32 PM EST)
Apple (NASDAQ: AAPL) reported Q1 EPS of $4.18, $0.01 better than the analyst estimate of $4.17. Revenue for the quarter came in at $84.3 billion versus the consensus estimate of $84 billion.
“While it was disappointing to miss our revenue guidance, we manage Apple for the long term, and this quarter’s results demonstrate that the underlying strength of our business runs deep and wide,” said Tim Cook, Apple’s CEO. “Our active installed base of devices reached an all-time high of 1.4 billion in the first quarter, growing in each of our geographic segments. That’s a great testament to the satisfaction and loyalty of our customers, and it’s driving our Services business to new records thanks to our large and fast-growing ecosystem.”
“We generated very strong operating cash flow of $26.7 billion during the December quarter and set an all-time EPS record of $4.18,” said Luca Maestri, Apple’s CFO. “We returned over $13 billion to our investors during the quarter through dividends and share repurchases. Our net cash balance was $130 billion at the end of the quarter, and we continue to target a net cash neutral position over time.”
Apple sees Q2 revenue between $55 billion and $59 billion, versus the consensus of $59 billion. Also sees:
- gross margin between 37 percent and 38 percent
- operating expenses between $8.5 billion and $8.6 billion
- other income/(expense) of $300 million
- tax rate of approximately 17 percent
For earnings history and earnings-related data on Apple (AAPL) click here.