Apple Missed Expectations

Apple (AAPL) reported earnings of $2.40 per share on revenue of $124.30 billion for the fiscal first quarter ended December 2024. The consensus earnings estimate was $2.36 per share on revenue of $124.10 billion. The Earnings Whisper number was $2.42 per share. The company missed expectations by 0.83% while revenue grew 3.95% on a year-over-year basis.

The company said it expects second quarter revenue of approximately $91.66 billion to $97.56 billion and gross margins of 46.5% to 47.5%, which implies earnings of $1.50 to $1.72 per share. The current consensus earnings estimate is $1.65 per share on revenue of $95.96 billion for the quarter ending March 31, 2025.

Apple Inc designs, manufactures, & markets mobile communication & media devices, personal computers, & portable digital music players, & sells a variety of related software, services, accessories, networking solutions, & third-party digital content.