The iPhone 17 series launch in September last year has skyrocketed profits for Apple. In its latest earnings call, the Cupertino giant confirmed that it hit record-breaking revenue of $143.8 billion. While iPhone sales played the biggest part in this revenue, Apple’s services such as Apple TV and Apple Music, also reached all-time records.
The Cupertino giant released its earnings from Q1 of 2026 that ended on December 27, 2025.
Point 1: Apple hits record revenue
In the earnings release, Apple revealed that it had a revenue of $143.8 billion in Q1. This is an increase of 16 per cent compared to the same period a year ago. When it comes to profits, the company reported a net profit of $42.09 billion.
Point 2: iPhone hits record sales
The iPhone 17 series was launched in September 2025. Tim Cook told Reuters that the demand for the iPhone 17 was “staggering.” According to the Apple CEO, iPhone sales outperformed estimates for the quarter. He added, “The demand for iPhone was simply staggering, with revenue growing 23% year over year to achieve its biggest quarter in history.” The company also reported that it gained market share in December, outpacing Android competitors.
However, Tim Cook has also hinted that the increasing RAM prices due to a surge in demand from AI data centres may have more of an impact on the company’s margins.
Point 3: iPhone brings majority of Apple revenue
The iPhone 17 sales not only outperformed Apple’s estimates, but saw record sales across all regions. Tim Cook explained in the earnings release, “iPhone had its best-ever quarter driven by unprecedented demand, with all-time records across every geographic segment.” As per Apple’s release, revenue from all iPhone sales stood at $85.27 billion during this period.
Point 4: Apple has 2.5 billion active devices worldwide
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.”
Point 5: Apple services reach all-time high revenue
The iPhone may have been the star device when it comes to Apple’s earnings. But the company also saw significant growth for its services division that includes platforms such as Apple TV and Apple Music.
According to Tim Cook, services saw a 14 per cent year-on-year increase, with a reported revenue of $30.01 billion.
Apple is set to launch AI Siri soon, possibly as soon as in February. It has partnered with Google, and it will use Gemini to power the next generation of Siri. Eventually, it plans to turn Siri into a chatbot, some reports say.
