How did Apple perform in fiscal Q1 2026?

Apple posted record revenue of $143.8 billion, up 16% year over year, and record diluted EPS of $2.84, up 19%. Gross margin rose to $69.2 billion and net income reached $42.1 billion.

What drove the revenue growth?

iPhone revenue rose to $85.3 billion from $69.1 billion, and Services grew 14% to $30.0 billion. Greater China was the standout region, growing about 38% to $25.5 billion, while Mac and Wearables/Home/Accessories declined slightly and iPad grew modestly.

How much cash did Apple generate and return to shareholders?

Operating cash flow was about $53.9 billion, up from $29.9 billion a year earlier. Apple returned roughly $32 billion, including $24.7 billion in share repurchases and $3.9 billion in dividends.

Did Apple change its dividend or guidance?

Apple declared a quarterly dividend of $0.26 per share, payable February 12, 2026. The press release did not include forward revenue or margin guidance; investors should consult the earnings call for outlook commentary.

Are there any items investors should watch in the balance sheet?

Other non-current assets rose to $93.1 billion and other non-current liabilities rose to $52.1 billion. Total debt declined, with term debt and commercial paper falling, while shareholders' equity increased to $88.2 billion.

AAPL 8-K: Earnings & Results

01—Abstract

Summary

Summary of the 8-K filed January 29, 2026. Cited figures are marked; the original filing is the authoritative source.

Apple reported fiscal Q1 2026 (quarter ended December 27, 2025) results that set new all-time records for total company revenue and diluted EPS.

Net sales reached $143.8 billion^a, up 16% year over year from $124.3 billion, and diluted EPS was $2.84, up 19% from $2.40. Gross margin expanded to $69.2 billion from $58.3 billion, and operating income rose 19% to $50.9 billion. Net income grew to $42.1 billion from $36.3 billion. iPhone revenue of $85.3 billion (up about 23%) and Services revenue of $30.0 billion (up 14%) both hit all-time highs, and Greater China revenue rose roughly 38% to $25.5 billion, the strongest growth of any segment.

Cash generation was strong, with operating cash flow of about $53.9 billion^b versus $29.9 billion a year earlier. Apple returned roughly $32 billion to shareholders through $24.7 billion in buybacks and $3.9 billion in dividends. Management also declared a quarterly dividend of $0.26 per share, payable February 12, 2026.

Cash and marketable securities rose meaningfully, and shareholders' equity increased to $88.2 billion^c. Total term debt fell to about $88.5 billion and commercial paper dropped to $2.0 billion, reflecting continued deleveraging. Investors should note that the filing is a press release furnished under Item 2.02 and contains only unaudited figures.

Several items warrant attention: other non-current assets and other non-current liabilities both grew sharply, and cash paid for income taxes fell to $3.4 billion^d from $18.7 billion, which management did not explain in the release. The company also cited an installed base of more than 2.5 billion active devices.

The forward-looking statements caution that results may differ materially due to macroeconomic, trade, geopolitical, competitive, and regulatory risks. The release did not include forward revenue guidance, so investors will need the earnings call for outlook commentary.

02—Key points

Key Highlights

Record quarterly revenue of $143.8 billion, up 16% year over year, with all-time record EPS of $2.84 diluted, up 19%.
iPhone revenue reached an all-time high of $85.3 billion, up about 23% from $69.1 billion, with records across every geographic segment.
Services revenue hit an all-time high of $30.0 billion, up 14% year over year, supporting higher-margin mix.
Greater China revenue grew roughly 38% to $25.5 billion, the fastest-growing geographic segment.
Operating income rose 19% to $50.9 billion, and net income increased to $42.1 billion from $36.3 billion.
Operating cash flow of about $53.9 billion, with roughly $32 billion returned to shareholders via $24.7 billion in buybacks and $3.9 billion in dividends.
Quarterly dividend of $0.26 per share declared, payable February 12, 2026 to holders of record as of February 9, 2026.

03—Questions

Frequently Asked Questions

How did Apple perform in fiscal Q1 2026?
Apple posted record revenue of $143.8 billion, up 16% year over year, and record diluted EPS of $2.84, up 19%. Gross margin rose to $69.2 billion and net income reached $42.1 billion.
What drove the revenue growth?
iPhone revenue rose to $85.3 billion from $69.1 billion, and Services grew 14% to $30.0 billion. Greater China was the standout region, growing about 38% to $25.5 billion, while Mac and Wearables/Home/Accessories declined slightly and iPad grew modestly.
How much cash did Apple generate and return to shareholders?
Operating cash flow was about $53.9 billion, up from $29.9 billion a year earlier. Apple returned roughly $32 billion, including $24.7 billion in share repurchases and $3.9 billion in dividends.
Did Apple change its dividend or guidance?
Apple declared a quarterly dividend of $0.26 per share, payable February 12, 2026. The press release did not include forward revenue or margin guidance; investors should consult the earnings call for outlook commentary.
Are there any items investors should watch in the balance sheet?
Other non-current assets rose to $93.1 billion and other non-current liabilities rose to $52.1 billion. Total debt declined, with term debt and commercial paper falling, while shareholders' equity increased to $88.2 billion.

04—Continue

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