iPhone demand ‘simply staggering’ as Apple posts record $143.8bn quarter

Apple has reported record-breaking revenue of $143.8 billion for its fiscal first quarter, with chief executive Tim Cook describing demand for the iPhone as “simply staggering”.

The company said revenue for the quarter ended December 27, 2025 was up 16% year on year, while diluted earnings per share rose 19% to $2.84 — both all-time highs for the holiday period.

“iPhone had its best-ever quarter driven by unprecedented demand, with all-time records across every geographic segment,” Cook said in Apple’s earnings release.

Speaking separately to CNBC’s Steve Kovach, Cook said iPhone demand had exceeded Apple’s own expectations.

Apple’s current lineup includes the iPhone 17, iPhone Air, iPhone 17 Pro and iPhone 17 Pro Max. The company does not provide a breakdown of sales by individual model and did not say which devices were most popular.

Services also reached a new revenue record during the quarter, up 14% from a year ago, as Apple’s installed base of active devices grew to more than 2.5 billion.

The results mark a sharp acceleration from the same quarter a year earlier, when Apple reported $124.3 billion in revenue and earnings per share of $2.40.

Apple’s finance chief Kevan Parekh said the company generated nearly $54 billion in operating cash flow during the quarter, returning almost $32 billion to shareholders.