Apple reports first quarter results

Core Insights - Apple reported a record-breaking quarterly revenue of $143.8 billion for Q1 2026, representing a 16% increase year over year, with diluted earnings per share (EPS) rising 19% to $2.84 [1][2] Financial Performance - Total net sales reached $143.8 billion, up from $124.3 billion in the same quarter last year, driven by strong performance in both products and services [9][10] - Product sales amounted to $113.7 billion, a significant increase from $98 billion, while services generated $30 billion, up from $26.3 billion [9][10] - Gross margin for the quarter was $69.2 billion, compared to $58.3 billion in the previous year [9] - Operating income increased to $50.9 billion from $42.8 billion, with net income rising to $42.1 billion from $36.3 billion [9] Segment Performance - iPhone sales reached $85.3 billion, up from $69.1 billion, marking the best-ever quarter for the product [10] - Services revenue also set an all-time record, increasing by 14% year over year [2] Cash Flow and Shareholder Returns - The company generated nearly $54 billion in operating cash flow and returned almost $32 billion to shareholders [2] - A cash dividend of $0.26 per share was declared, payable on February 12, 2026 [2] Active Devices and Market Presence - Apple now has over 2.5 billion active devices, indicating strong customer satisfaction and product adoption [2]