Apple reported historic quarterly results, driven by a strong surge in iPhone sales, especially in China, where demand exceeded expectations and boosted the company’s global performance. In the first quarter of its 2026 fiscal year, Apple posted revenue of $143.8 billion, representing a 16% year-over-year increase, with net profit also rising 16%, beating market forecasts.
The iPhone was once again the standout product, with sales increasing 23% worldwide, mainly fueled by the new iPhone 17 lineup. In the key Chinese market, revenue jumped 38% compared to the previous year, reflecting strong consumer demand and growing market share in a highly competitive environment.
Apple’s services division, including iCloud, Apple TV+, and AppleCare, also reached record revenue, providing stability beyond device sales. Although some categories, such as Mac computers, saw slight declines, the overall results highlight the company’s strength and resilience.
Why does the iPhone boom in China matter?
Because China is one of Apple’s largest and most competitive markets, and strong performance there drives global growth and reinforces the company’s leadership amid slowing demand elsewhere.