Apple beat on the top and bottom lines as sales of iPhone sales grew for the first time in a year.
But the pick up in the company’s business, which lifted Apple shares 2% in after hours trading on Tuesday, may not prove as robust as some have hoped. Apple’s sales forecast for the first three months of 2017 fell short of Wall Street targets.
But Apple returned to growth after three quarters in which its revenue fell on an annual basis, helped by record sales of its most important product, the iPhone. Apple said that this quarter’s earnings per share, at $3.36 per share, set a company record.
Apple also declared a cash dividend of $0.57 per share on Tuesday.
Here are Apple’s key earnings figures versus Wall Street’s expectations:
Q1 EPS (GAAP): $3.36, up 2% year-over-year, versus expectations of $3.22
Q1 revenue: $78.4 billion, up 3% year-over-year, versus expectations of $77.4 billion
Gross margin: 38.5%, versus expectations of 38.4%
iPhone unit sales: 78 million, up 4% year-over-year, versus expectations of 76.3 million
iPhone ASP: $694, versus expectations of $688
iPad unit sales: 13 million, versus 16.12 million in the year-ago quarter
Mac unit sales: 5.3 million, versus 5.3 million in the year-ago quarter
Upcoming quarter revenue guidance: between 51.5 billion and 53.5 billion
Earnings call live blog:
We’ll be updating this post as the numbers come in — click here for the latest.
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