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Apple (AAPL) Blows Past Estimates With Record Earnings and Revenue

Ryan McQueeney
Updated

Apple Inc. (AAPL) just released its first quarter earnings results, posting earnings of $3.38 per share and revenue of $78.35 billion.  

AAPL was up 2.49% to $124.37 in after-hours trading shortly after its earnings report was released.

Currently, AAPL has a Zacks Rank #3 (Hold), but it is subject to change following the release of the company’s latest earnings report. Here are 5 key statistics from this just announced report below.

Apple:                                                      

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Beat earnings estimates. The company posted basic earnings of $3.38 per share and diluted earnings of $3.36 per share. Wall Street estimates called for earnings of $3.22 per share.

Beat revenue estimates. The company saw all-time record revenue figures of $78.35 billion, beating our estimate of $76.168 billion.

Apple sold 78.290 million units during the holiday quarter. This represents growth of 72% sequentially and 5% year-over-year. Total revenue from the company’s iPhone unit came in at $54.378 billion, up 5% year-over-year.

Apple provided guidance for its fiscal second quarter. The company expects revenues between $51.5 billion and $53.5 billion.

“We’re thrilled to report that our holiday quarter results generated Apple’s highest quarterly revenue ever, and broke multiple records along the way. We sold more iPhones than ever before and set all-time revenue records for iPhone, Services, Mac and Apple Watch,” said CEO Tim Cook.

Here’s a graph that looks at Apple’s recent earnings performance:

Apple Inc. Price, Consensus and EPS Surprise

Apple Inc. Price, Consensus and EPS Surprise | Apple Inc. Quote

Apple Inc. is engaged in designing, manufacturing and marketing mobile communication and media devices, personal computers, and portable digital music players. The Company's products and services include iPhone, iPad, Mac, iPod, Apple TV, a portfolio of consumer and professional software applications, the iOS and Mac OS X operating systems, iCloud, and a range of accessory, service and support offerings.

Check back later for our full analysis on Apple’s latest earnings report!

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