Apple (AAPL) Stock Gains in After-Hours Trading on Earnings Beat - TheStreet

NEW YORK (TheStreet) -- Shares of Apple (AAPL) - Get Report were gaining by 1.5% to $116.24 in after-hours trading on Tuesday, after the iPhone maker beat analysts' earnings estimates for the fourth quarter of fiscal 2015.

Apple reported earnings of $1.96 a share for the fiscal fourth quarter, above analysts' estimates of $1.88 a share. Revenue grew by 22.3% year over year to $51.5 billion for the quarter, compared to analysts' estimates of $51.04 billion.

"Fiscal 2015 was Apple's most successful year ever, with revenue growing 28% to nearly $234 billion," CEO Tim Cook said in a statement. "This continued success is the result of our commitment to making the best, most innovative products on earth, and it's a testament to the tremendous execution by our teams."

The company sold 48.05 million iPhones in the fourth quarter, compared to analysts' estimates of 48.5 million iPhones sold in the quarter. The fiscal fourth quarter only included two days of sales of the iPhone 6s and iPhone 6s Plus.

Apple sold 9.88 million iPads in the fiscal fourth quarter, below analysts' estimates of 10.2 million tablets. The company sold 5.71 million Macs in the quarter, above analysts' estimates of 5.6 million units for the quarter.

Looking to the first quarter of fiscal 2016, Apple is expecting revenue of $75.5 billion to $77.5 billion, compared to analysts' estimates of $77.14 billion.

For more on Apple's fiscal fourth quarter earnings report, read TheStreet's live blog of the company's earnings.

Separately, TheStreet Ratings team rates APPLE INC as a Buy with a ratings score of B+. TheStreet Ratings Team has this to say about their recommendation:

We rate APPLE INC (AAPL) a BUY. This is driven by multiple strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its solid stock price performance, impressive record of earnings per share growth, compelling growth in net income, robust revenue growth and notable return on equity. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results.

You can view the full analysis from the report here: AAPL

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