Apple Inc. · Earnings release · 8-K Exhibit 99

EX-99.1 2 a8-kex991q1202612272025.htm EX-99.1 Document Exhibit 99.1 Apple reports first quarter results All-time records for total company revenue and EPS iPhone and Services revenue reach new all-time highs CUPERTINO, CALIFORNIA — Apple ® today announced financial results for its fiscal 2026 first quarter ended December 27, 2025. The Company posted quarterly revenue of $143.8 billion, up 16 percent year over year. Diluted earnings per share was $2.84, up 19 percent year over year. "Today, Apple is proud to report a remarkable, record-breaking quarter, with revenue of $143.8 billion, up 16 percent from a year ago and well above our expectations," said Tim Cook, Apple's CEO. "T1iPhone had its best-ever quarter driven by unprecedented demand, with T2all-time records across every geographic segment, and T3Services also achieved an all-time revenue record, up 14 percent from a year ago.

We are also excited to announce that T4our installed base now has more than 2.5 billion active devices, which is a testament to incredible customer satisfaction for the very best products and services in the world." "During the December quarter, T5our record business performance and strong margins led to EPS growth of 19 percent, setting a new all-time EPS record," said Kevan Parekh, Apple's CFO. "T6These exceptionally strong results generated nearly $54 billion in operating cash flow, T7allowing us to return almost $32 billion to shareholders." Apple's board of directors has declared a cash dividend of $0.26 per share of the Company's common stock. The dividend is payable on February 12, 2026, to shareholders of record as of the close of business on February 9, 2026.

Apple will provide live streaming of its Q1 2026 financial results conference call beginning at 2:00 p.m. PT on January 29, 2026, at apple.com/investor/earnings-call. The webcast will be available for replay for approximately two weeks thereafter. Apple periodically provides information for investors on its corporate website, apple.com, and its investor relations website, investor.apple.com. This includes press releases and other information about financial performance, reports filed or furnished with the SEC, information on corporate governance, and details related to its annual meeting of shareholders. This press release contains forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include without limitation those about payment of the Company's quarterly dividend and future business plans.

These statements involve risks and uncertainties, and actual results may differ materially from any future results expressed or implied by the forward-looking statements. Risks and uncertainties include without limitation: effects of global and regional economic conditions, including as a result of government policies, trade and other international disputes, geopolitical tensions, conflict, terrorism, natural disasters, and public health issues; risks relating to the design, manufacture, introduction, and transition of products and services in highly competitive and rapidly changing markets, including from reliance on third parties for components, technology, manufacturing, applications, services, support, and content; risks relating to information technology system failures, network disruptions, and failure to protect, loss of, or unauthorized access to, or release of, data; and effects of unfavorable legal proceedings, government investigations, and complex and changing laws and regulations.

More information on these risks and other potential factors that could affect the Company's business, reputation, results of operations, financial condition, and stock price is included in the Company's filings with the SEC, including in the "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections of the Company's most recently filed periodic reports on Form 10-K and Form 10-Q and subsequent filings. The Company assumes no obligation to update any forward-looking statements, which speak only as of the date they are made. Apple revolutionized personal technology with the introduction of the Macintosh in 1984. Today, Apple leads the world in innovation with iPhone, iPad, Mac, AirPods, Apple Watch, and Apple Vision Pro.

Apple's six software platforms — iOS, iPadOS, macOS, watchOS, visionOS, and tvOS — provide seamless experiences across all Apple devices and empower people with breakthrough services including the App Store, Apple Music, Apple Pay, iCloud, and Apple TV. Apple's more than 150,000 employees are dedicated to making the best products on earth and to leaving the world better than we found it. Press Contact: Josh Rosenstock Apple jrosenstock@apple.com (408) 862-1142 Investor Relations Contact: Suhasini Chandramouli Apple suhasini@apple.com (408) 974-3123 NOTE TO EDITORS: For additional information visit Apple Newsroom (www.apple.com/newsroom), or email Apple's Media Helpline at media.help@apple.com. © 2026 Apple Inc. All rights reserved. Apple and the Apple logo are trademarks of Apple.

Other company and product names may be trademarks of their respective owners. Apple Inc. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) (In millions, except number of shares, which are reflected in thousands, and per-share amounts) Three Months Ended December 27, 2025 December 28, 2024 Net sales:    Products $ 113,743  $ 97,960     Services 30,013  26,340  Total net sales (1) 143,756  124,300  Cost of sales:    Products 67,478  59,447     Services 7,047  6,578  Total cost of sales 74,525  66,025  Gross margin 69,231  58,275  Operating expenses: Research and development 10,887  8,268  Selling, general and administrative 7,492  7,175  Total operating expenses 18,379  15,443  Operating income 50,852  42,832  Other income/(expense), net 150  (248) Income before provision for income taxes 51,002  42,584  Provision for income taxes 8,905  6,254  Net income $ 42,097  $ 36,330  Earnings per share: Basic $ 2.85  $ 2.41  Diluted $ 2.84  $ 2.40  Shares used in computing earnings per share: Basic 14,748,158  15,081,724  Diluted 14,810,356  15,150,865  (1)  Net sales by reportable segment: Americas $ 58,529  $ 52,648  Europe 38,146  33,861  Greater China 25,526  18,513  Japan 9,413  8,987  Rest of Asia Pacific 12,142  10,291  Total net sales $ 143,756  $ 124,300  (1)  Net sales by category: iPhone $ 85,269  $ 69,138  Mac 8,386  8,987  iPad 8,595  8,088  Wearables, Home and Accessories 11,493  11,747  Services 30,013  26,340  Total net sales $ 143,756  $ 124,300  Apple Inc.

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (In millions, except number of shares, which are reflected in thousands, and par value) December 27, 2025 September 27, 2025 ASSETS: Current assets: Cash and cash equivalents $ 45,317  $ 35,934  Marketable securities 21,590  18,763  Accounts receivable, net 39,921  39,777  Vendor non-trade receivables 30,399  33,180  Inventories 5,875  5,718  Other current assets 15,002  14,585  Total current assets 158,104  147,957  Non-current assets: Marketable securities 77,888  77,723  Property, plant and equipment, net 50,159  49,834  Other non-current assets 93,146  83,727  Total non-current assets 221,193  211,284  Total assets $ 379,297  $ 359,241  LIABILITIES AND SHAREHOLDERS' EQUITY: Current liabilities: Accounts payable $ 70,587  $ 69,860  Other current liabilities 68,543  66,387  Deferred revenue 9,413  9,055  Commercial paper 1,997  7,979  Term debt 11,827  12,350  Total current liabilities 162,367  165,631  Non-current liabilities: Term debt 76,685  78,328  Other non-current liabilities 52,055  41,549  Total non-current liabilities 128,740  119,877  Total liabilities 291,107  285,508  Commitments and contingencies Shareholders' equity: Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 14,702,703 and 14,773,260 shares issued and outstanding, respectively 95,221  93,568  Accumulated deficit (2,177) (14,264) Accumulated other comprehensive loss (4,854) (5,571) Total shareholders' equity 88,190  73,733  Total liabilities and shareholders' equity $ 379,297  $ 359,241  Apple Inc.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (In millions) Three Months Ended December 27, 2025 December 28, 2024 Cash, cash equivalents, and restricted cash and cash equivalents, beginning balances $ 35,934  $ 29,943  Operating activities: Net income 42,097  36,330  Adjustments to reconcile net income to cash generated by operating activities: Depreciation and amortization 3,214  3,080  Share-based compensation expense 3,594  3,286  Other (528) (2,009) Changes in operating assets and liabilities: Accounts receivable, net (153) 3,597  Vendor non-trade receivables 2,781  3,166  Inventories (211) 215  Other current and non-current assets (10,250) 939  Accounts payable 848  (6,671) Other current and non-current liabilities 12,533  (11,998) Cash generated by operating activities 53,925  29,935  Investing activities: Purchases of marketable securities (12,693) (6,124) Proceeds from maturities of marketable securities 7,510  15,967  Proceeds from sales of marketable securities 2,824  3,492  Payments for acquisition of property, plant and equipment (2,373) (2,940) Other (154) (603) Cash generated by/(used in) investing activities (4,886) 9,792  Financing activities: Payments for taxes related to net share settlement of equity awards (2,922) (2,921) Payments for dividends and dividend equivalents (3,921) (3,856) Repurchases of common stock (24,701) (23,606) Repayments of term debt (2,164) (1,009) Repayments of commercial paper, net (5,910) (7,944) Other (38) (35) Cash used in financing activities (39,656) (39,371) Increase in cash, cash equivalents, and restricted cash and cash equivalents 9,383  356  Cash, cash equivalents, and restricted cash and cash equivalents, ending balances $ 45,317  $ 30,299  Supplemental cash flow disclosure: Cash paid for income taxes, net $ 3,434  $ 18,651