Apple Hits All-Time High with $143.8 Billion Q1 Revenue

A record-breaking quarter marks a 16% annual increase.

Apple (AAPL) has officially announced unprecedented financial achievements for the first quarter of fiscal 2026, achieving a remarkable total revenue of $143.8 billion USD. Fuelled by exceptional global demand for the iPhone 17 series and significant growth of its Services ecosystem, the technology behemoth surpassed Wall Street projections while establishing new record highs for earnings per share. CEO Tim Cook characterised the period as a “quarter for the record books,” marked by a substantial 23% increase in iPhone sales and a notable recovery in the Greater China market.

The principal driver of this remarkable performance was the iPhone category, which yielded $85.3 billion USD in revenue. The iPhone 17 Pro and the ultra-slim iPhone Air model significantly enhanced Apple's market dominance in all geographic regions. Significantly, revenue in Greater China surged by 38%, alleviating prior apprehensions about regional demand. CFO Kevan Parekh indicated that the company concluded the quarter in "supply chase mode," as demand for advanced 3-nanometer silicon components persistently exceeded available inventory.

In addition to hardware, Apple’s Services segment, which includes the App Store, Apple Music, and iCloud, generated $30 billion USD in sales, reflecting a 14% increase over the prior year. This expansion is bolstered by a dynamic installed base that currently surpasses 2.5 billion devices. The results call teased forthcoming innovations, with management emphasising an impending collaboration with Google to include Gemini-powered AI functionalities into a more personalised Siri later this year. Notwithstanding minor declines in Mac and Wearables attributable to supply limitations, the company produced $53.9 billion USD in operating cash flow, repaying around $32 billion USD to stockholders via dividends and buybacks.