Apple clocks $144 bn quarter as iPhone 17 fuels revenue surge

Apple has reported its strongest-ever quarterly performance, posting record revenue of $143.8 billion for the fiscal first quarter of 2026 ended December 27, 2025. 

The figure marks a 16 per cent year-on-year increase, driven primarily by robust demand for the iPhone 17 series launched in September. Net profit for the quarter stood at $42.1 billion, underlining the scale of the earnings beat.

The iPhone remained the company’s largest revenue contributor, generating $85.27 billion during the quarter, a 23 per cent annual rise. Growth was broad-based across regions, with particularly strong traction in Greater China, where revenue climbed to $25.53 billion from $18.5 billion a year earlier. The performance helped Apple gain market share during the December quarter, even as competition from Android devices remained intense.

Beyond hardware, Apple’s services business continued to expand, delivering record quarterly revenue of $30.01 billion, up 14 per cent year-on-year. The segment benefited from steady growth across digital subscriptions, entertainment and platform services, reinforcing its role as a key profit engine alongside the iPhone.

The company also disclosed that its global installed base has crossed 2.5 billion active devices, highlighting the scale of its ecosystem and the long-term opportunity for services-led monetisation.

Looking ahead, Apple forecast revenue growth of 13 to 16 per cent for the March quarter, exceeding market expectations of around 10 per cent growth. Operating expenses are projected to be in the range of $18.4 billion to $18.7 billion, slightly higher than the previous quarter. While demand remains strong, the company flagged supply constraints linked to advanced chips and rising memory prices, factors that could weigh on margins in the near term.