Apple Q4 Results Top Estimates

(RTTNews) - Apple Inc. (AAPL) reported net income for the fourth quarter of $8.5 billion or $1.42 per share, compared to $7.5 billion or $1.18 per share for the year-ago quarter.

Net sales for the fourth quarter rose to $42.12 billion from $37.47 billion in the same quarter last year.

Analysts polled by Thomson Reuters expected the company to earn $1.31 per share on revenue of $39.85 billion for the fourth quarter.

Looking forward, the company forecasts first quarter revenue of $63.5 billion to $66.5 billion. Gross margin for the first quarter is expected between 37.5% and 38.5%. Analysts currently expect the company to post revenue of $63.52 billion for the first quarter.