Apple has announced record-breaking financial results for its fiscal 2026 first quarter, posting quarterly revenue of $143.8 billion, up 16 percent year over year. The tech giant reported diluted earnings per share of $2.84, representing a 19 percent increase from the same period last year and significantly exceeding Wall Street expectations of $2.67 per share.
The standout performer was the iPhone, which generated $85.27 billion in revenue during the quarter, a remarkable 23 percent surge on an annual basis. Apple CEO Tim Cook attributed the exceptional results to strong demand for the iPhone 17 models released in September 2025. Cook described customer response during the earnings call as simply staggering, noting unprecedented enthusiasm for the latest generation of smartphones.
Apple's performance in Greater China proved particularly impressive, with sales in the region surging 38 percent to reach $25.53 billion. Cook highlighted that the company set an all-time record for device upgraders in mainland China while achieving double-digit growth in customers switching from competing platforms. This resurgence in the crucial Chinese market addresses concerns that had weighed on the company's stock over the past year.
The Services segment continued its growth trajectory, setting an all-time quarterly record of $30 billion in revenue, up 14 percent from the previous year. This diversified revenue stream, which includes the App Store, Apple Music, iCloud, and Apple TV Plus, has become increasingly important to Apple's overall financial health and demonstrates the strength of its ecosystem approach.
Other product categories showed mixed results. iPad sales reached $8.60 billion, marking a 6.27 percent increase from last year, while Mac sales totaled $8.39 billion, down 6.69 percent year over year. The wearables, home, and accessories segment generated $11.49 billion, representing a modest 2.16 percent decline from the prior year period.
Looking ahead, Apple Chief Financial Officer Kevan Parekh indicated the company expects revenue growth between 13 and 16 percent on an annual basis for the current quarter, though the company warned of constrained iPhone supply during the period. Apple also announced that its installed base has surpassed 2.5 billion active devices worldwide, underscoring the massive scale of its global customer reach and the potential for future services revenue growth.
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