On January 30, Apple Inc. unveiled its financial outcomes for the first quarter of fiscal year 2026, revealing robust double-digit growth in both revenue and net profit. Throughout the reporting period, Apple clocked in revenue of $143.756 billion, marking a 16% increase from the same period last year. Its net profit soared to $42.097 billion, up by 15.9% year-on-year.

Notably, the iPhone business emerged as the star performer, generating $85.27 billion in revenue, a remarkable 23% surge compared to the previous year, and serving as the main impetus for growth. Meanwhile, the services sector, encompassing subscription services like the App Store and Apple Music, achieved a revenue milestone of $30 billion, up 14% year-on-year, setting a new record.

Apple's CEO, Tim Cook, hailed the iPhone business's performance as "arguably the best ever," attributing it to robust global demand. The services division, with its stable growth trajectory, underscored the enduring appeal of Apple's ecosystem.

Furthermore, Cook acknowledged the challenges posed by escalating component costs, particularly memory prices. However, he emphasized that Apple has adeptly navigated these headwinds, leveraging diversified procurement strategies and product portfolio optimizations to shield its profits from cost volatility.

In addition, Cook divulged that Apple is expediting its foray into generative AI technology, with the inaugural wave of AI-driven feature enhancements slated for release later this year.