Live Blog Apple Q1 Earnings Live Blog

SAN DIEGO, CALIF.- (TheStreet) -- Thanks to unprecedented demand for its larger iPhones during the holiday season, Apple (AAPL) - Get Report  was expected to post enormous sales for its quarter ended in December, and the tech giant didn't disappoint.

For the quarter ending Dec. 27, Apple earned $3.06 a share on $74.6 billion in revenue, up 30% year-over-year. In the quarter, Apple shipped 74.5 million iPhones, 5.5 million Macs and 21.4 million iPads. Gross margins, a closely watched level for Apple, came in at 39.9%, as international sales now account for 65% of Apple revenue.

For Apple's fiscal 2015 first quarter, Wall Street estimates earnings per share of $2.59 on revenue of $67.7 billion, according to analysts polled by Thomson Reuters.

For the fiscal second quarter, Apple said it expects revenue to be between $52 billion and $55 billion, with gross margin between 38.5% and 39.5%, operating expenses between $5.4 billion and $5.5 billion and other income/(expense) of $350 million.

On the earnings call, CEO Tim Cook announced that the long-awaited Apple Watch, which Apple unveiled in Sept. 2014, would start shipping in April.

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Written by Jen Van Grove in San Diego

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