Apple beats on the top and bottom line lead by beats in iPhones and Mac revenue; iPad revenue misses (159.22 -0.47)
- Reports Q1 (Dec) earnings of $2.10 per share, $0.21 better than the S&P Capital IQ Consensus of $1.89; revenues rose 11.3% year/year to $123.94 bln vs the $118.53 bln S&P Capital IQ Consensus.
- Q1 iPhone revenue $71.6 bln vs. $67.5 bln ests
- Q1 Mac revenue $10.8 bln vs. $9.5 bln ests
- Q1 iPad revenue $7.25 bln vs. $7.8 bln ests.
- Q1 wearables revenue $14.7 bln vs. $14.0 bln ests.
- Q1 services revenue $19.5 bln vs. $19.7 bln ests.
- Q1 gross margin was 43.7% versus 41.6% ests.
CEO Tim Cook tells CNBC that supply issues will likely ease in March quarter. Conference call begins at 17:00 ET, where Apple could give more color on Q2.