Apple has delivered its highest-ever quarterly revenue of $143.8 billion in Q1 2026, powered by exceptional demand for the iPhone 17 series and continued momentum in its fast-growing services segment. The landmark performance comes just ahead of Apple’s anticipated launch of its next-generation AI-powered Siri, signalling a strong start to the year for the tech giant.
Apple posted a historic set of results for the first quarter of fiscal year 2026, which concluded on December 27, 2025. The Cupertino-headquartered company confirmed that booming iPhone 17 sales, coupled with record-breaking services revenue, helped it achieve one of the most successful quarters in its history.
According to the company’s earnings statement, total revenue reached $143.8 billion, setting a new all-time quarterly record and underscoring Apple’s continued dominance in the global technology market.
In its official earnings disclosure, Apple reported $143.8 billion in revenue for Q1, representing a 16 per cent year-on-year increase. Profitability also remained strong, with the company posting a net profit of $42.09 billion for the quarter.
This performance highlights Apple’s ability to sustain premium pricing, deepen customer engagement across its ecosystem, and grow both hardware and services revenue despite ongoing global economic challenges.
The iPhone 17 lineup, introduced in September 2025, played a central role in Apple’s standout quarter. Speaking to Reuters, Apple CEO Tim Cook characterised demand as "staggering.”
He said,
"The demand for iPhone was simply staggering, with revenue growing 23% year over year to achieve its biggest quarter in history."
Apple confirmed that iPhone sales exceeded company expectations and enabled the brand to gain market share in December, outperforming key Android rivals across several major markets.
However, Cook also noted that rising RAM costs, driven by increased demand from AI data centres, could weigh on Apple’s margins in upcoming quarters.
The iPhone once again emerged as Apple’s primary revenue contributor in Q1 2026. Emphasising the device’s global appeal, Tim Cook said,
“iPhone had its best-ever quarter driven by unprecedented demand, with all-time records across every geographic segment.”
Apple’s financial filing revealed that iPhone revenue totalled $85.27 billion during the quarter, reinforcing the smartphone’s central role in the company’s business strategy.
During the earnings call, Apple also announced that its installed base has surpassed 2.5 billion active devices globally—a major milestone for the company.
Highlighting the significance of this achievement, Cook stated,
“We are also excited to announce that our installed base now has more than 2.5 billion active devices, which is a testament to incredible customer satisfaction for the very best products and services in the world.”
This growing ecosystem provides Apple with a powerful foundation for long-term growth, particularly in recurring services revenue.
Alongside strong iPhone performance, Apple’s services division delivered an exceptional quarter. Services revenue climbed 14 per cent year-on-year to $30.01 billion, marking an all-time high.
The segment includes platforms such as Apple TV+, Apple Music, iCloud, and the App Store, all of which continue to benefit from Apple’s expanding global user base.
Apple is now gearing up to introduce its AI-powered Siri, potentially as early as February. The company has partnered with Google and plans to use Gemini to power the next iteration of Siri.
Industry reports suggest Apple ultimately intends to evolve Siri into a fully conversational chatbot, representing a major shift in its artificial intelligence roadmap and positioning it more directly against rivals such as OpenAI and Microsoft.
Apple’s record-setting Q1 2026 results underline the enduring strength of its iPhone portfolio and the rising importance of its services business. With $143.8 billion in total revenue, $85.27 billion from iPhones, and a global installed base exceeding 2.5 billion active devices, Apple enters 2026 in a position of remarkable financial resilience. As the company prepares to roll out AI-powered Siri, both investors and consumers will be closely watching how artificial intelligence shapes the next chapter of Apple’s growth journey.