Q1 2026 Apple Inc Earnings Call Transcript
Key Points
- Apple Inc (AAPL) reported its best-ever quarter with $143.8 billion in revenue, up 16% year-over-year.
- iPhone revenue reached an all-time high of $85.3 billion, growing 23% year-over-year.
- Services revenue set an all-time record of $30 billion, up 14% from the previous year.
- The company achieved all-time revenue records in multiple geographic segments, including the Americas, Europe, Japan, and Greater China.
- Apple Inc (AAPL) surpassed 2.5 billion active devices, marking a new record for its installed base.
- Mac revenue declined by 7% year-over-year, facing tough comparisons from previous product launches.
- Wearables, home, and accessories revenue decreased by 2% year-over-year due to constraints on AirPods Pro 3.
- The company is experiencing supply constraints, particularly with advanced nodes for its SOCs, impacting iPhone supply.
- Memory pricing is expected to have a more significant impact on gross margins in the upcoming quarter.
- Operating expenses increased by 19% year-over-year, driven by higher investment in R&D.
Good afternoon, and welcome to the Apple Q1 fiscal year 2026 earnings conference call. My name is Suhasini Chandramouli, Director of Investor Relations. Today's call is being recorded. Speaking first today is Apple CEO, Tim Cook, and he'll be followed by CFO, Kevan Parekh. After that, we'll open the call to questions from analysts.
Please note that some of the information you'll hear during our discussion today will consist of forward-looking statements, including, without limitation, those regarding revenue, gross margin, operating expenses, other income and expense, taxes, capital allocation and future business outlook.
These statements involve risks and uncertainties that may cause actual results or trends to differ materially from our forecast, including risks related to the potential impact to the company's business and results of operations from macroeconomic conditions, tariffs and other measures, and legal and regulatory proceedings.
For more information, please refer to the risk factors discussed in
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