Apple Inc. (AAPL) reported first-quarter fiscal 2026 earnings of $2.84 per share on December 27, 2025, exceeding the Zacks Consensus Estimate by 7.17%. Net sales grew 15.7% year over year to $143.77 billion, surpassing expectations by 4.3%. iPhone sales rose 23.3% to $85.27 billion, which comprised 59.3% of total sales but fell short of the consensus estimate by 9.28%. In contrast, iPad sales increased 6.3% to $8.6 billion, while Mac sales declined 6.7% to $8.39 billion.
Sales in Greater China surged 38% year over year, totaling $25.53 billion, and accounted for 17.8% of sales. Europe sales increased 12.7% to $38.15 billion, while the Americas reported $58.53 billion in sales, reflecting an 11.2% growth. The gross margin improved to 48.2%, up 130 basis points from the previous year. Operating expenses rose 19% to $18.38 billion, mainly due to elevated research and development costs.
Looking ahead, Apple expects second-quarter fiscal 2026 net sales to rise between 13% and 16% year over year, with gross margin projected at 48-49%. As of December 27, 2025, Apple held cash and marketable securities worth $144.8 billion against $90.51 billion in total debt.
