What changed
Apple reported fiscal first-quarter revenue of $143.8 billion for the quarter ended December 27, 2025, up 16% from a year earlier, while diluted earnings per share rose 19% to $2.84. iPhone and Services each reached all-time quarterly revenue highs, and Apple said its active-device base surpassed 2.5 billion.
Why it matters
The striking part is not just the size of the quarter. Apple’s two core engines moved together: iPhone delivered its best-ever quarter, while Services revenue rose 14%. That gives the company more than one source of momentum, even as the release provides no product-line breakdown or forward guidance.
Apple also generated nearly $54 billion in operating cash flow and returned almost $32 billion to shareholders. A $0.26-per-share dividend will be paid on February 12 to shareholders recorded on February 9.
The 2.5 billion active-device figure is the clearest signal of Apple’s scale. Every new iPhone can feed into a broader installed base of products and services, but the durability of this demand remains the key question. For now, the numbers show unusually strong performance; they do not yet explain how much of it can be sustained.
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