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Apple reported a sharp jump in fiscal 2026 first-quarter results, powered by record iPhone sales and stronger demand in Greater China. The company posted $143.8 billion in quarterly revenue, up 16% year over year.
The company said diluted earnings per share (earnings per share, EPS) reached $2.84, up 19% from the prior year. Apple shares rose about 3% in extended trading after the report.
Apple said the December-quarter results beat estimates across key headline metrics. The company reported $42.1 billion in net income, up from $36.33 billion a year earlier.
London Stock Exchange Group (LSEG) consensus estimates had projected $138.48 billion in revenue and $2.67 in EPS. Apple gained $143.76 billion in revenue and $2.84 in EPS, according to the report.
Chief Executive Officer Tim Cook called the quarter “record-breaking” and pointed to iPhone and Services momentum. Chief Financial Officer Kevan Parekh said margins supported a new all-time EPS record.
Apple reported iPhone revenue of $85.27 billion for the quarter, up 23% year over year. LSEG estimates had pegged iPhone revenue at $78.65 billion.
Apple CEO Tim Cook said the iPhone delivered its best-ever quarter with records across geographic segments. He also said the installed base rose to more than 2.5 billion active devices.
Greater China results stood out in the quarter. Apple reported $25.53 billion in sales in China, Taiwan, and Hong Kong, up 38%, and Cook tied the rise to iPhone demand.
Apple reported $8.39 billion in Mac revenue, down 7% year over year. Meanwhile, LSEG estimates had called for $8.95 billion, despite a November MacBook Pro refresh with the M4 chip.
iPad revenue rose 6% to $8.60 billion, beating the $8.13 billion estimate. Cook said about half of iPad buyers were first-time owners during the quarter.
Wearables, Home, and Accessories revenue declined 2% to $11.49 billion, missing the $12.04 billion estimate. Apple reported Services revenue of $30.01 billion, near the $30.07 billion estimate, while Cook said Services set a record and rose 14%.
Apple highlighted disciplined spending even as peers expand artificial intelligence budgets. Cook said Apple had “the best platforms in the world for AI.”
The company disclosed a partnership with Google to use the Gemini AI model for Apple Intelligence features. Meanwhile, Apple recorded $2.37 billion in capital spending, down from $2.94 billion a year earlier.
Research and development spending increased to $10.89 billion from $8.27 billion. Parekh said AI would require incremental investment beyond the normal product roadmap.
Apple returned almost $32 billion to shareholders through buybacks and dividends during the quarter. In addition, Apple’s board declared a $0.26 cash dividend payable February 12, 2026, to holders of record on February 9, 2026.
Apple did not issue a formal forecast, yet Parekh provided revenue expectations for the current quarter. He said Apple expects revenue to rise 13% to 16% year over year, or $107.8 billion to $110.66 billion, while Apple also expects constrained iPhone supply.
