Apple has reported the latest quarterly revenue of $111.2 billion, up 17% from a year ago, setting a March record and exceeding the high end of guidance despite supply constraints for the quarter that ended March 28, 2026.
It posted a net profit of $29.6 billion, up 19.35% YoY, and quarterly earnings per diluted share were $2.10, up 27.27% YoY, setting March quarter records.
During the earnings call, Apple CEO Tim Cook talked about John Ternus replacing him as CEO later this year. He said that he is incredibly optimistic about Apple Inc.’s future and said, “I know we have the right team in place to deliver on the promise of this company.”
Apple opened its sixth store in India in February in Maharashtra in Borivali.
- Products revenue was $80.2 billion, up 17% from last year, driven by double-digit growth on iPhone, setting a new March record.
- The installed base of active devices reached 2.5 billion, another all-time high across all major product categories and geographic segments.
- Services revenue was $31 billion, up 16% year-over-year with strong performance across the board, with double-digit growth in the vast majority of the markets
- iPhone revenue was $57 billion, up 22% year over year, driven by the iPhone 17 family.
- iPhone grew double digits in the majority of markets, including the US, Latin America, Greater China, Western Europe, India, Japan, and Southeast Asia. The iPhone active installed base grew to an all-time high and set a March record for iPhone upgraders.
- iPad revenue was $6.9 billion, up 8% year-over-year, driven by the continued strength of the A16-powered iPad and the M5-powered iPad Pro.
- The iPad install base reached a new all-time high as iPad continued to reach new customers around the world. During the quarter, over half of the customers who purchased an iPad were new to the product.
- Mac generated $8.4 billion in revenue, up 6% year-over-year, despite supply constraints driven by higher-than-expected levels of demand. Apple set March records for upgraders and customers new to Mac.
- Wearables, Home and Accessories revenue was $7.9 billion, up 5% year-over-year, driven by strength in wearables and accessories. A new March revenue record in emerging markets. The wearables installed base reached a new all-time high, with over half of the customers purchasing an Apple Watch during the quarter being new to the product.
Speaking on Apple’s FY Q1 2026 earnings results, Apple CEO, Tim Cook, said,
Today Apple is proud to report our best March quarter ever, with revenue of $111.2 billion and double-digit growth across every geographic segment. iPhone achieved a March quarter revenue record, fueled by such extraordinary demand for the iPhone 17 lineup.
During the quarter, Services achieved yet another all-time record, and we were excited to introduce remarkable new products to our strongest lineup ever. That included the addition of the iPhone 17e and the M4-powered iPad Air, along with the launch of MacBook Neo, which is captivating customers all around the world.