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Apple (AAPL) Q1 FY26 earnings results (first quarter fiscal 2026)
10-Q filed Jan 30, 2026
Apple (AAPL) reported revenue of $143.8B for the first quarter fiscal 2026 (Q1 FY26), +16% from a year earlier and +40% from the quarter before. Operating margin was 35.4%, net earnings $42.1B (29.3% of revenue).
Apple, Q1 FY26: revenue $143.8B (+16% year over year), operating margin 35.4%, net earnings $42.1B, operating cash flow $53.9B. The chart follows the revenue to costs, profit and cash.
| Q1 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $143.8B | +40% | +16% |
| Gross profit | $69.2B | +43% | +19% |
| Operating profit | $50.9B | +57% | +19% |
| Net earnings | $42.1B | +53% | +16% |
| Operating cash flow | $53.9B | +81% | +80% |
| Free cash flow | $51.6B | +95% | +91% |
What changed
Revenue was $143.8B in Q1 FY26, up 16% year over year and up 40% from the previous quarter. iPhone was the largest line at 59% of revenue. iPhone added $16.1B year over year (up 23%), 83% of the total change. Mac declined 7%.
Gross margin was 48.2%, up 1.3 points from Q1 FY25. Operating profit was $50.9B, a 35.4% margin (up 0.9 points year over year). Of the extra revenue versus Q1 FY25, 41% reached operating profit, above the 34% margin then. Operating expenses grew 19% against revenue growth of 16%. The fastest-growing cost line was Research & development (+32%). Net earnings were $42.1B, up 16% year over year. The effective tax rate was 17.5%.
Operating cash flow was $53.9B (up 80% year over year), 128% of net earnings. Non-cash charges added back $3.2B of depreciation and amortization and $3.6B of share-based compensation. Working capital and other items added $5.0B. Capital expenditures of $2.4B left free cash flow of $51.6B.
Questions
What was Apple's revenue in the first quarter fiscal 2026?
Apple (AAPL) reported revenue of $143.8B for the first quarter fiscal 2026 (Q1 FY26), +16% from a year earlier and +40% from the quarter before.
Was Apple profitable in the first quarter fiscal 2026?
Operating profit was $50.9B (35.4% of revenue) and net earnings $42.1B.
Source: Apple 10-Q on SEC EDGAR.