Apple Records $29.6bn Profit As iPhone Revenue Surges

Apple Inc. has recorded its strongest March quarter performance yet, posting revenue of $111.2 billion for the first quarter of 2026 financial year, amid strong growth in iPhone sales, services and renewed momentum in the Chinese market.

The figures displayed during the company’s earnings presentation showed that total revenue rose by 17 per cent year-on-year, while net income climbed to $29.57 billion, representing a 19.33 per cent increase over the corresponding period last year.

The technology giant’s mobile business remained its largest revenue driver, generating $56.9 billion during the quarter, up by 21.5 per cent.

This, however, reflects its performance sustained global demand for premium smartphones despite broader economic uncertainties in several markets.

Meanwhile, Apple’s services segment, which includes subscriptions, cloud offerings, streaming and payment services, also continued its upward trajectory, recording $30.9 billion in revenue, a 16 per cent increase.

Also, the company’s recovery in Greater China emerged as another major highlight of the quarter, with revenue from the region rising by 27.5 per cent to $20.4 billion, signalling renewed consumer demand and improved market performance after previous periods of slowdown.

Operating income stood at $35.8 billion, up 21 per cent, underscoring improved operational efficiency and strong product margins across the company’s ecosystem.

The earnings figures were presented alongside the declaration that the company had achieved its best March quarter ever, reinforcing Apple’s dominance in the global consumer technology market.

Consequently, the company’s performance shows the latest results may further strengthen investor confidence in the company’s long-term growth prospects, particularly as competition intensifies in artificial intelligence, cloud services and high-end mobile devices.