On January 29, Apple announced record-breaking financial results for the first quarter of 2026. Total revenue was $143.8 billion, up 16% from the same time last year, thanks to record-breaking demand for the iPhone 17. Net profit was $42.1 billion, or $2.84 per share, which was more than what analysts had expected. iPhone sales alone brought in a record $85.27 billion, making it the best quarter ever for all regions.
Tim Cook, the CEO, said that there was “staggering” global demand for the iPhone 17 lineup, which came out in September 2025. The base models now come with Pro-level features like always-on displays and high-refresh-rate screens. Sales went up 23% from last year, bringing Apple’s total number of active devices around the world to almost 2.5 billion. Greater China had a great quarter for iPhone sales, with $25.5 billion, up 38%. This was the best quarter for the region since retail traffic started to rise again.
Apple’s services division, which includes Apple Music, iCloud, and Apple TV+, grew 14% to $30.01 billion, setting a new record. But Mac sales fell to $8.39 billion, iPad sales stayed at $8.60 billion, and wearables sales fell to $11.49 billion. Overall, though, sales were still strong.
Apple is looking to make a comeback despite delays in AI. The company plans to improve Siri with Google’s Gemini 3 model, which will add more conversational and personalized features. Cook talked about AI as a “cutting-edge platform” that works on iPhones, iPads, Macs, and watches. This puts Apple in a good position to compete with its competitors. Analysts say that worries about AI are exaggerated, and the stock price went up after earnings.
