Apple Posts Record $143.8 Billion USD Revenue Following Blockbuster Q1 Earnings
The tech giant reports historic growth driven by staggering iPhone 17 demand and services expansion.
Summary
- Apple achieved its best-ever quarterly revenue of $143.8 billion USD marking a 16% increase year-over-year
- The iPhone 17 lineup fueled record-breaking hardware sales totaling $85.3 billion USD with significant momentum in Greater China
- Services revenue reached an all-time high of $30 billion USD as the active device installed base surpassed 2.5 billion units
Apple (AAPL) has officially reported record-breaking financial results for its fiscal 2026 first quarter, posting a staggering $143.8 billion USD in total revenue. Driven by unprecedented global demand for the iPhone 17 series and a robust expansion of its Services ecosystem, the tech giant exceeded Wall Street expectations while setting new all-time highs for earnings per share. CEO Tim Cook described the period as a “quarter for the record books,” highlighted by a significant 23% surge in iPhone sales and a major rebound in the Greater China market.
The primary catalyst for this historic performance was the iPhone segment, which generated $85.3 billion USD in revenue. The popularity of the iPhone 17 Pro and the ultra-slim iPhone Air model helped Apple capture dominant market shares across every geographic region. Notably, revenue in Greater China jumped by 38%, silencing previous concerns regarding regional demand. CFO Kevan Parekh noted that the company exited the quarter in “supply chase mode,” with demand for advanced 3-nanometer silicon components continuing to outpace available inventory.
Beyond hardware, Apple’s Services division — encompassing the App Store, Apple Music, and iCloud — recorded $30 billion USD in revenue, up 14% from the previous year. This growth is supported by an active installed base that now exceeds 2.5 billion devices. The earnings call also previewed future innovation, with management highlighting an upcoming collaboration with Google to integrate Gemini-powered AI features into a more personalized Siri later this year. Despite slight contractions in Mac and Wearables due to supply constraints, the company generated $53.9 billion USD in operating cash flow, returning nearly $32 billion USD to shareholders through dividends and buybacks.
