Apple’s profits surged following the launch of the iPhone 17 series in September last year, with the company reporting record revenue of $143.8 billion in its latest earnings call. While iPhone sales remained the primary growth driver, Apple said its services business, including Apple TV and Apple Music, also posted all-time highs. The figures relate to Q1 FY2026, which ended on December 27, 2025.
In its earnings announcement, Apple disclosed a Q1 revenue of $143.8 billion, marking a 16 percent rise from the same quarter last year. Regarding profits, the company reported a net income of $42.09 billion.
The iPhone 17 series debuted in September 2025. Tim Cook informed Reuters that the demand for the iPhone 17 was "staggering." According to the Apple CEO, iPhone sales exceeded quarterly expectations. The company also announced that it increased its market share in December, surpassing Android rivals.
Tim Cook also cautioned that rising RAM prices—driven by growing demand from AI data centres—could put pressure on Apple’s margins. At the same time, iPhone 17 sales exceeded the company’s expectations and delivered record performance across all regions. In the earnings release, Cook said, “iPhone had its best-ever quarter driven by unprecedented demand, with all-time records across every geographic segment.” Apple reported that iPhone revenue for the period reached $85.27 billion.
In the earnings call, Tim Cook stated that Apple now had over 2.5 billion active devices globally. The Apple CEO proudly declared this feat, claiming that it showed the high customer satisfaction with the company’s products. He said, “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.”
While the iPhone led Apple’s earnings, the services business also posted strong growth. CEO Tim Cook said services revenue rose 14% year-on-year to $30.01 billion, driven by platforms like Apple TV and Apple Music. Apple is expected to roll out its AI-powered Siri as early as February, with reports suggesting the upgrade will be powered by Google’s Gemini and evolve Siri into a chatbot.
