NEW YORK (TheStreet) -- Apple (AAPL) - Get Report shares are rising 0.07% to $100.01 in after-hours trading on Tuesday, immediately following the tech giant's first quarter fiscal 2016 financial results.
Earnings came in at $3.28 a share for the quarter ended December 26, beating analysts' estimates of $3.23 a share.
Revenue of $75.9 billion however, came in slightly under forecasts of $76.6 billion.
These results were higher than a year ago, when the company reported earnings of $3.06 a share on revenue of $74.6 billion during its first quarter.
In the recent quarter, Apple shipped 74.8 million iPhone units, falling short of projections of 75.5 million. However, this quarter's shipments were better than the year-ago period, according to CNBC.com.
IPad and Mac shipments came in at 16.1 million and 5.3 million, respectively.
"Our team delivered Apple's biggest quarter ever, thanks to the world's most innovative products and all-time record sales of iPhone, Apple Watch and Apple TV," said CEO Tim Cook.
Looking ahead, the company expects to generate revenue between the range of $50 billion to $53 billion during the second quarter of fiscal 2016, compared to estimates of $55.5 billion.
Additionally, the company's board of directors declared a cash dividend of 52 cents a share. The dividend is payable on February 11, 2016, to shareholders of record as of the close of business on February 8, 2016.
Separately, TheStreet Ratings currently has a Buy rating on the stock with a letter grade of B.
This is driven by several positive factors, which TheStreet believes should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks TheStreet covers.
Specifically, the company's strengths can be seen in multiple areas, such as its impressive record of earnings per share growth, compelling growth in net income, robust revenue growth, notable return on equity and expanding profit margins. TheStreet feels its strengths outweigh the fact that the company has had lackluster performance in the stock itself.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: AAPL