Apple shares edge higher after record iPhone sales boost Q1 results
The tech giant posted $143.8 billion in first-quarter revenue, up 16% year on year, and set records for iPhone and Services.
Apple shares nudged up marginally after-hours trading on Thursday following stronger-than-expected first-quarter results, driven by record-breaking iPhone revenue and a resurgence in China.
The tech company posted quarterly revenue of $143.8 billion, a 16% year-on-year increase and well above analysts’ forecast of $138.4 billion.
Earnings per share reached $2.84, exceeding the predicted $2.68. The results reflect Apple’s traditionally strong holiday period, up from $124.3 billion in the same quarter last year.
iPhone revenue surged 23%, fuelled by high demand for the iPhone 17 series, which launched in September.
Sales of the new models, particularly the iPhone 17 and 17 Pro, were credited with revitalising Apple's performance in China, where revenue climbed 38% after a period of sluggish growth.
Chief executive Tim Cook described it as the iPhone’s “best-ever quarter”, noting that Apple set all-time revenue records in every region.
While Apple has seen continued financial momentum, investor concerns remain over its pace of innovation in artificial intelligence.
In response, the company announced that its updated Siri assistant will use Google’s Gemini AI models. Nonetheless, analysts noted that consumer demand continues to favour Apple’s hardware reliability and pricing over advanced AI features.
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Speculation continues around Apple’s 2026 roadmap, including the expected launch of its first folding phone, joining competitors like Samsung, Google and Motorola in that category.
Apple previously posted record fourth-quarter revenue of $102.5 billion and briefly surpassed a $4 trillion market valuation in late 2025. Although shares have dipped 10% since December, they remain higher than a year ago.
The Recap
- Apple posted $143.8 billion in first-quarter revenue and set company records.
- iPhone and Services reached all-time revenue highs with Services up 14 percent.
- Webcast began at 2:00 p.m. PT and replays available.
