--> trading 124.75, +2.80% in after hours
Apple beats by $0.14, beats on revs; guides Q2 revs below consensus
- Reports Q1 (Dec) earnings of $3.36 per share, $0.14 better than the Capital IQ Consensus of $3.22; revenues rose 3.3% year/year to $78.35 bln vs the $77.26 bln Capital IQ Consensus. Gross margin 38.5%, in-line with estimates vs. 40.5% last year.
- iPhones 78.3 mln vs 77.3 mln ests and 74.8 mln last year.
- iPads 13.1 mln vs 14.7 mln ests and 16.1 mln last year Macs 5.4 mln vs 5.2 mln ests versus 5.3 mln last year.
- Co issues downside guidance for Q2, sees Q2 revs of $51.5-53.5 bln vs. $54.05 bln Capital IQ Consensus; gross margin between 38-39% vs 38.7% ests and 39.4% last year.; operating expenses between $6.5 billion and $6.6 billion; other income/(expense) of $400 million; tax rate of 26 percent