Apple Sales, Revenue Beat Record Expectations In Q1
January 27, 2015 at 2:47 PM (PT)
Although WALL STREET suffered from a horrible day of underwhelming earning reports, APPLE's after-hours announcement of its Q1 performance should give the market a nice boost tomorrow morning. Facing stock analyst predictions of record-breaking sales of 66.5 million iPHONES, USA TODAY reports that APPLE blew those predictions away with iPHONE sales of 74.5 million, a vast majority of them the wider-screened 6 models.
APPLE's Q1 revenue of $74.6 billion and $3.06 earnings per share also beat analyst estimates of $67.7 billion and $2.60, respectively. Profit margin for the tech giant was almost 40%.
How many records did APPLE's Q1 break? According to the WALL STREET JOURNAL, it smashed previous records in earnings, revenue, iPHONE unit sales, iPHONE revenue, MAC revenue and the App store. APPLE said it sold around 34,000 iPHONES every hour, 24 hours day for the entire quarter -- and 65% of its sales were from abroad. Case-in-point: CNET reports that research firm CANALYS noted that the iPHONE is now the top smartphone in CHINA, based on units shipped, for the first time ever.
Elsewhere, iPAD sales declined to 21.4 million, but MAC continued to surprise analysts with 5.5 million in sales.
Looking ahead, APPLE predicts fiscal Q2 revenue (post-holidays) of between $52 billion and $55 billion. The sales momentum should continue into the spring, with the expected launch of APPLE WATCH, with first-year sales pegged at 30 million.