Summary created by Smart Answers AI
In summary:
- Apple achieved record Q1 2026 revenue of $143.8 billion with $42 billion profit, according to Macworld, driven primarily by unprecedented iPhone sales of $85 billion.
- Services revenue grew 15% to $30 billion while iPad sales increased 8%, though Mac sales declined 7% and Wearables dropped 2%.
- These results represent Apple’s strongest quarter ever, with diluted earnings per share jumping 19% to $2.84 despite mixed performance across product categories.
Apple held its first quarter 2026 financial results on Thursday, and the company posted revenue of $143.8 billion, a 16 percent year-over-year increase, and quarterly diluted earnings per share of $2.84, up 19 percent, with $42 billion in profit. Apple’s previous all-time record quarter was exactly a year ago.
Analysts had projected Apple’s revenue at $138.48 billion, with an earnings per share of $2.67, so this was a substantial beat. Apple’s board of directors has declared a cash dividend of $0.26 per share. The dividend is payable on February 12, 2026, to shareholders of record as of the close of business on February 9, 2026.
The iPhone had its best quarter ever, with $85 billion, beating the previous record of $71.6 billion set in the first quarter of 2022. “iPhone had its best-ever quarter driven by unprecedented demand, with all-time records across every geographic segment,” said CEO Tim Cook in a press release. Apple easily broke its previous record of $71.6 billion in 2022.
The iPad saw an increase of 8 percent, while Services had another great quarter with an increase of 15 percent. Mac sales were down 7 percent year-over-year, which isn’t surprising since Apple released only one new Mac for the quarter, the M5 MacBook Pro, versus five new models last year. Apple’s sales for Wearables, Home, and Accessories saw a slight 2 percent decrease.
How the quarter ended year-over-year for Apple:
- iPhone: $85 billion (up from $69 billion)
- iPad: $8.6 billion (up from $8 billion)
- Mac: $8.3 billion (down from $8.9 billion)
- Wearables, Home, and Accessories: $11.5 billion (down from $11.7 billion)
- Services: $30 billion (up from $26 billion)
Apple is holding a conference call for investors at 5 pm ET. We’ll update this story with any news.
