Apple earnings: What to watch

In less than half an hour, Apple Inc. is scheduled to report results for its fiscal first quarter ended December 27, 2014.

The analysts’ consensus estimate is for net income of $2.60 a share, as surveyed by Thomson Reuters, compared with a split-adjusted $2.07 YOY. Record revenue of $67.7 billion is forecast versus current record $57.6 billion reported in Q114.

Analysts polled by Fortune forecast iPhone unit sales of 66.5 million.

On October 20, 2014, Apple provided the following guidance for Q115:
• revenue between $63.5 billion and $66.5 billion
• gross margin between 37.5 percent and 38.5 percent
• operating expenses between $5.4 billion and $5.5 billion
• other income/(expense) of $325 million
• tax rate of 26.5 percent


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