Apple beats on earnings, misses revenue and iPhone units; Q2 sales guidance below consensus
AlphaOne Capital Founding Partner Dan Niles discusses Apple's latest earnings beat. Apple reported fiscal first quarter earnings that beat analyst estimates, but came in below expectations on revenue, iPhone sales and more. The company said it saw quarterly earnings of $3.28 per share on $75.9 billion in revenue. Analysts had expected Apple to report earnings of about $3.23 a share on $76.54 billion in revenue, according to a consensus estimate from Thomson Reuters. Apple CEO Tim Cook described the quarter to CNBC as a period in which there were "a lot of great things happening in a turbulent environment." Apple shares did not immediately move much on the news, but then shifted to a more than 1 percent slide in after-hours trading. The company also reported that it sold 74.8 million iPhones in the quarter, missing expectations of about 75.46 million, according to StreetAccount. Apple's most recent iPhone model, the 6S,Read full article from Apple beats on earnings, misses revenue and iPhone units; Q2 sales guidance below consensus
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