Apple posted fiscal first-quarter earnings and revenue that well exceeded Wall Street expectations, with revenue coming in at $143.76 billion, thanks to its newest iPhone.

Here are the top line results.

Net income: $42.10 billion, compared to $36.33 billion a year ago.

Earnings Per Share: $2.84, compared to $2.40 a year ago and $2.67 expected by analysts surveyed by Yahoo Finance.

Revenue: $143.76 billion, compared to $138.52 billion expected by analysts surveyed by Yahoo Finance.

iPhone Sales: $85.26 billion, compared with $69.14 billion a year ago.

Services: $30.01 billion, compared with $26.34 billion a year ago.

The report comes just hours after the news that Apple acquired Israeli audio AI startup Q.ai, further expanding the company’s spending in the AI market. Apple did not disclose details of the deal.

Apple touted earlier this month that Apple TV broke its previous viewership record in December with total hours viewed up 36% year-over-year, rounding out what SVP Eddy Cue called a “record-breaking year” in 2025 across Apple Music, Pay, TV, News and iCloud.

“This milestone was fueled by robust audience growth across Europe and Latin America, continued expansion in the U.S.,” Cue wrote in a January memo. “The landmark year was propelled by Apple’s summer blockbuster F1 — the No. 1 movie at the global box office, the top film on Apple TV, and the highest-grossing sports movie of all time — as well as the premiere of Apple TV’s biggest series to date, the widely acclaimed ‘Pluribus.’”

More to come …