Apple (AAPL) Tops Q1 EPS by 44c, Revs Beat
Apple (NASDAQ: AAPL) reported Q1 EPS of $4.99, $0.44 better than the analyst estimate of $4.55. Revenue for the quarter came in at $91.8 billion versus the consensus estimate of $88.5 billion.
“We are thrilled to report Apple’s highest quarterly revenue ever, fueled by strong demand for our iPhone 11 and iPhone 11 Pro models, and all-time records for Services and Wearables,” said Tim Cook, Apple’s CEO. “During the holiday quarter our active installed base of devices grew in each of our geographic segments and has now reached over 1.5 billion. We see this as a powerful testament to the satisfaction, engagement and loyalty of our customers — and a great driver of our growth across the board.”
“Our very strong business performance drove an all-time net income record of $22.2 billion and generated operating cash flow of $30.5 billion,” said Luca Maestri, Apple’s CFO. “We also returned nearly $25 billion to shareholders during the quarter, including $20 billion in share repurchases and $3.5 billion in dividends and equivalents, as we maintain our target of reaching a net cash neutral position over time.”
The company sees Q2 revenue between $63.0 billion and $67.0 billion, versus the consensus of $62.45 billion.
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