Apple Inc. (NASDAQ: AAPL) reported higher sales and profit for the first quarter of fiscal 2026, reflecting continued strong demand for iPhone. Both revenue and earnings exceeded analysts’ forecasts.
The tech giant’s net sales for the first quarter rose to $143.8 billion from $124.3 billion in the comparable quarter of fiscal 2025, exceeding consensus estimates. Sales of iPhone increased 23% YoY during the three months.
First-quarter earnings, on a per-share basis, rose to $2.84 from $2.40 in the prior-year quarter. The latest number came in above the market’s expectations. Net income was $42.1 billion in Q1, compared to $36.3 billion in the year-ago period.
“iPhone had its best-ever quarter driven by unprecedented demand, with all-time records across every geographic segment, and Services also achieved an all-time revenue record, up 14 percent from a year ago. 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,” said Tim Cook, Apple’s CEO.