=Apple (AAPL) reported 4Q earnings on Tue 26 Jan 2016 (a/h)

Apple beats by $0.05, revenue misses estimates, near low end of guidance; guides Q2 revs and gross margin below consensus :

• Reports Q1 (Dec) earnings of $3.28 per share, $0.05 better than the Capital IQ Consensus of $3.23; revenues rose 1.7% year/year to $75.87 bln vs the $76.6 bln Capital IQ Consensus and $75.5-77.5 bln guidance; gross margin 40.1% vs 39.9% ests, 39-40% guidance and 39.9% last year.
  • iPhones 74.8 mln vs 76.2 mln ests vs 74.5 mln last year.
  • iPads 16.1 mln vs 19.1 mln ests vs 21.4 mln last year
  • Macs 5.3 mln vs 5.7 mln ests 5.5 mln last year.
• Co issues downside guidance for Q2, sees Q2 revs of $50-53 bln vs. $55.38 bln Capital IQ Consensus; gross margins 39.0-39.5% vs 40.0% ests and 40.8% last year.
  • Q2 rev would be down 12.6% YoY at the midpoint of guidance.