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 Apple Inc. (AAPL) 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.

TheStreet Recommends

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.


Written by Jen Van Grove in San Diego

>Contact by Email.

Follow @jbruin