Apple reported fiscal first quarter revenue of $143.8 billion, marking a 16 percent year-over-year increase, and delivered non-GAAP earnings per share of $2.84, up 19 percent from the prior year. This quarter represents the strongest top- and bottom-line result in the company’s history, driven by robust consumer demand and an expanded services business.

Unit sales of the latest iPhone rose by 23 percent compared with the year-ago quarter, fueled by “unprecedented” uptake in Greater China—where revenue jumped from $18.5 billion to $25.5 billion—and double-digit growth in India. Services revenue also hit an all-time high, climbing 14 percent, as subscribers increased across the App Store, Apple Music and cloud-based offerings.

Gross margin expanded by over 100 basis points to reach the low-40 percent range, reflecting operational efficiencies and a favorable product mix. However, management cautioned that ongoing shortages in high-bandwidth memory—exacerbated by increased AI data-center deployments—could elevate component costs in the coming quarters, potentially pressuring margins until supply stabilizes.