- Apple (NASDAQ:AAPL) shares slip 1% aftermarket following Q1 results that beat revenue and EPS estimates but missed on unit shipments and included a downside Q2 guidance.
- Downside Q2 guidance: revenue, $60B to $62B (consensus: $65.62B); gross margin, 38% to 38.5%; operating expenses, $7.6B to $7.7B; tax rate, about 15%.
- Unit sales (Y/Y growth; consensus estimate): iPhone, 77.3M (-1% Y/Y in units, +13% in revenue; estimate: 81.5M); iPad, 13.1M (+1% in units, +6% in revenue; 13.7M); Mac, 5.1M (-5% in units and revenue; 5.6M); Services, $8.47B (+18%); Other Products, $5.5B (+36%).
- Average selling price: Apple reported $796, analysts expected $755.
- China: China revenue up 11% on the year to $17.96B. Analysts expected +9.2% growth to $17.73B.
- Cash reserve: Record $285.1B.
- Apple will hold its Q1 earnings call at 5 PM Eastern with a webcast available here.
- Previously: Apple declares $0.63 dividend (Feb. 1)
- Previously: Apple beats by $0.04, beats on revenue (Feb. 1)
- Now read: Apple Panic Really Warranted?
Original article