Apple Records $29.6 Billion 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...