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Apple reports record Q1 revenue of $75.9 billion

Staff writer |
Apple announced results for its 2016 first quarter ended December 26, 2015. The company posted record quarterly revenue of $75.9 billion and record quarterly net income of $18.4 billion, or $3.28 per diluted share.

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These results compare to revenue of $74.6 billion and net income of $18 billion, or $3.06 per diluted share, in the year-ago quarter.

Gross margin was 40.1 percent compared to 39.9 percent in the year-ago quarter. International sales accounted for 66 percent of the quarter’s revenue.

Apple is providing the following guidance for its fiscal 2016 second quarter: revenue between $50 billion and $53 billion, gross margin between 39 percent and 39.5 percent, operating expenses between $6 billion and $6.1 billion, other income/(expense) of $325 million, and tax rate of 25.5 percent

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