Apple Tops Q1 Earnings on Record $85.3B iPhone Sales, Shares Rise 1%

Apple (AAPL) beat Q1 earnings estimates on January 29, 2026, driven by record iPhone revenue of $85.3 billion — up from $69.1 billion a year ago and surpassing the $78.3 billion analyst forecast. The company posted EPS of $2.84 on $143.8 billion in revenue, exceeding consensus estimates of $2.68 EPS and $138.4 billion revenue. Services revenue hit $30 billion as expected. China sales surged 38% YoY to $25.5 billion, reversing recent declines. Mac, iPad, and Wearables generated $8.4B, $8.6B, and $11.5B respectively. Separately, Apple is acquiring AI startup Q.AI for $2 billion to enhance non-verbal AI interactions. It also confirmed using Google’s Gemini models to power its delayed Siri overhaul, now slated for late 2026.