Apple Reports Record Quarterly Revenue of $124 Billion Driven by iPhone Sales in Asia
Apple beats earnings forecasts with $124 billion in quarterly revenue as iPhone demand surges in Asia and Services hits a record $26.3 billion.
Image: GlobalBeat / 2026
Apple Inc. reported record quarterly revenue of $124 billion on Tuesday, surpassing Wall Street estimates by a wide margin as iPhone sales across Asian markets grew at double-digit rates despite a sluggish global consumer spending environment.
The company’s net income rose 14 percent year-on-year to $33.6 billion, while earnings per share came in at $2.18 against analyst forecasts of $1.96. The Services division, which includes the App Store, Apple Music and iCloud, set its own quarterly record at $26.3 billion.
“Demand for our ecosystem is not slowing,” Apple’s Chief Financial Officer told analysts on an earnings call. “We are seeing strong upgrade cycles in China, India, and Southeast Asia that we did not fully anticipate entering this fiscal year.”
Shares climbed 3.8 percent in after-hours trading following the announcement, pushing Apple’s market capitalization back above $3 trillion.
The company also raised its quarterly dividend by 4 percent and announced an additional $90 billion in share buybacks.