Apple Inc. announced unaudited consolidated earnings results for the first quarter ended December 26, 2015. For the quarter, the company reported net sales of $75,872 million against $74,599 million a year ago. Operating income was $24,171 million against $24,246 million a year ago. Income before provision for income taxes was $24,573 million against $24,416 million a year ago. Net income was $18,361 million or $3.28 diluted per share against $18,024 million or $3.06 diluted per share a year ago. Cash generated by operating activities was $27,463 million against $33,722 million a year ago. Payments for acquisition of property, plant and equipment was $3,612 million against $3,217 million a year ago. Payments for acquisition of intangible assets were $394 million against $48 million a year ago.

For the second quarter, the company expects revenue between $50 billion and $53 billion, gross margin between 39% and 39.5%, operating expenses between $6 billion and $6.1 billion and tax rate of 25.5%.