Apple reports record first quarter as iPhone and Services hit new peaks

Apple has posted blockbuster results for its fiscal first quarter, with revenue and earnings both hitting all-time highs.

For the quarter ended December 27, 2025, Apple reported revenue of $143.8 billion, a 16 % increase compared with the same period a year ago. Diluted earnings per share rose 19 % to $2.84, also a record.

Chief Executive Tim Cook said the quarter was “remarkable” and highlighted strong demand for the iPhone, which set new revenue records across every region. Services, Apple’s high-margin segment encompassing the App Store, Apple Music, iCloud and other subscriptions, also reached an all-time revenue high.

Analysts and Apple’s own forecasts had expected a strong performance, with Wall Street anticipating a solid year-over-year jump in revenue and earnings for the holiday quarter.

The company said its active installed base of devices now tops 2.5 billion, underlining the scale of its ecosystem.

Apple’s first quarter results mark a significant acceleration from the year before.

In the first quarter of fiscal 2025 — covering the closing months of 2024 — Apple reported revenue of $124.3 billion, up 4 % year-on-year, with diluted earnings of $2.40 per share. Services was a standout, achieving a then-record revenue, even as iPhone sales were flat in some regions.

The jump to $143.8 billion this year represents one of Apple’s strongest quarterly year-over-year gains in recent history, reflecting both robust hardware demand and continued expansion of its services business.

Apple’s finance chief, Kevan Parekh, said strong margins helped drive nearly $54 billion in operating cash flow, allowing the company to return almost $32 billion to shareholders in the quarter. The board declared a quarterly cash dividend of $0.26 per share.