Apple (AAPL) has reported strong fiscal first-quarter financial results as sales of its latest iPhone surged around the world, particularly in China.
The consumer electronics maker announced earnings per share (EPS) of $2.84 U.S., which beat the $2.67 U.S. forecast on Wall Street.
Revenue in the quarter totaled $143.76 billion U.S., which topped the consensus expectation among analysts of $138.48 billion U.S. Overall sales were up 16% from a year earlier.
Among its various business units, Apple reported the following:
• iPhone revenue: $85.27 billion U.S. vs. $78.65 billion U.S. estimated
• Mac revenue: $8.39 billion U.S. vs. $8.95 billion U.S. estimated
• iPad revenue: $8.60 billion U.S. vs. $8.13 billion U.S. estimated
• Wearables, Home and Accessories revenue: $11.49 billion U.S. vs. $12.04 billion U.S.
• Services revenue: $30.01 billion U.S. vs. $30.07 billion U.S. estimated
• Gross margin: 48.2% vs. 47.5% estimated
While Apple doesn’t issue formal guidance, executives said during their earnings call with media and analysts that they expect revenue in the current quarter to rise between 13% and 16%.
That growth would be equivalent to between $107.8 billion U.S. and $110.66 billion U.S. in revenue for the company. Wall Street was expecting $104.84 billion U.S. in sales this quarter.
Management at Apple also said that they expect constrained iPhone supply this quarter due to soaring demand for the latest version of the smartphone, the iPhone 17.
iPhone revenue surged 23% year-over-year in the company’s fiscal first quarter, with particular strength in China.
Apple CEO Tim Cook said that demand for the iPhone 17 series of devices has been “staggering.”
The strong growth is a reversal from the holiday quarter in 2024, when Apple reported that its iPhone sales declined.
Cook said Apple now has an active base of 2.5 billion iPhones, Macs and other Apple devices, up from 2.35 billion in January 2025.
iPhone sales in China, including Taiwan and Hong Kong, rose 38% year-over-year during the quarter to $25.53 billion U.S.
Apple spent nearly $32 billion U.S. during the latest quarter on share repurchases and dividend payments.
AAPL stock has risen 9% over the last 12 months to trade at $258.28 U.S. per share.
Tech Insider
