Apple revenue quarterly FY 2005-2026

Apple's revenue worldwide from fiscal 1st quarter 2005 to 2nd quarter 2026

Few companies have a revenue story like Apple's. From a quarterly turnover of about 3.5 billion U.S. dollars in the final months of 2004, the start of its 2005 fiscal year, Apple grew into a business reporting more than 143 billion dollars in a single quarter by late 2025. This report tracks Apple's worldwide revenue quarter by quarter, from fiscal Q1 2005 through fiscal Q2 2026, charting the iPod era, the iPhone explosion, and the services-driven giant the company has become. It is one of the most remarkable growth records in corporate history, and the quarterly detail shows exactly how each phase unfolded.

A word on Apple's calendar is essential. Apple's fiscal year ends in late September, so its fiscal first quarter covers October to December, the all-important holiday season, and is consistently its largest. Fiscal Q2 covers January to March, Q3 April to June, and Q4 July to September. The figures here, drawn from Apple's quarterly filings with the U.S. Securities and Exchange Commission, are in U.S. dollars and reflect total net sales. For a very different corner of the device world, see our VR headset market revenue analysis.

A note on the data is useful. These figures cover Apple's total worldwide revenue, quarter by quarter, from fiscal Q1 2005 through fiscal Q2 2026, and are taken from the company's reported results. Because Apple's quarters are highly seasonal, with the holiday quarter dwarfing the rest, the quarter-to-quarter line is deliberately jagged; the underlying growth is far clearer in the annual and trailing-twelve-month views that follow. All figures are actual reported results, not forecasts or estimates.

What makes Apple's revenue history so striking is not just its scale but its repeated reinvention. The company has ridden a succession of products, the iPod, the iPhone, the iPad, the Apple Watch and AirPods, and most recently a vast services business, each arriving in time to power the next leg of growth. Today Apple is among the largest companies in the world by revenue, a position set against its peers in our big tech revenue comparison analysis. The quarterly curve that follows shows every step of that climb.

Apple Annual Revenue, Fiscal 2005-2025

The table lists Apple's revenue for every fiscal quarter from Q1 2005 to Q2 2026, alongside year-over-year growth against the same quarter a year earlier, which strips out Apple's strong seasonality. The early rows show a company turning over a few billion dollars a quarter; the later rows show holiday quarters exceeding 140 billion. Sorting the growth column reveals the explosive iPhone years of the early 2010s, the pandemic-era surge, and the more recent record-breaking holiday quarters that have lifted Apple to fresh highs.

Two Decades of Growth

Collapsing the quarters into fiscal years removes the seasonal noise and reveals the underlying trajectory. Apple's annual revenue rose from under 14 billion dollars in fiscal 2005 to a record 416 billion in fiscal 2025, roughly a thirtyfold increase. The steepest gains came between 2010 and 2015, as the iPhone scaled globally, and again in 2021, when pandemic demand and a 5G iPhone cycle drove a huge jump. Recent years have grown more slowly but from a vastly larger base.

The annual view makes Apple's growth phases clear. The iPod and early iPhone years built the foundation, the iPhone boom of the 2010s transformed Apple into the world's most valuable company, and the period since 2016 has been defined by a steadier hardware business augmented by fast-growing services. The iPhone remains the single biggest driver, a dominance rooted in the premium smartphone market examined in our worldwide smartphone market revenue analysis.

It is worth noting how unusual sustained growth at this scale is. Doubling revenue is hard for any large company; Apple has effectively done so several times over from an already substantial base. The dip in fiscal 2016, after the huge iPhone 6 cycle, and the softer years of 2019 and 2023 show that even Apple is not immune to product cycles and macroeconomic pressure. Yet each pause has been followed by renewed growth, most recently the record fiscal 2025 and the standout opening quarters of fiscal 2026. Few companies in history have sustained growth at this scale for so long, and the annual view makes plain how the iPhone, and later services, repeatedly reset expectations for how large a hardware-driven business could become.

Year-over-Year Growth Rates

Plotting year-over-year growth for each quarter, measured against the same quarter a year earlier, captures Apple's momentum without seasonal distortion. The chart is dominated by the explosive iPhone years around 2011 and 2012, when several quarters grew by more than 50 percent. Growth then became more cyclical, swinging with each iPhone launch, dipping into negative territory in parts of 2016, 2019 and 2023, and surging again during the pandemic and in the most recent fiscal 2026 quarters.

These swings reflect Apple's reliance on product cycles. A strong new iPhone or a new category can lift growth sharply, while a quieter year or tough comparisons can push it negative, even as the absolute revenue base keeps climbing. The recent reacceleration, with fiscal 2026's opening quarters growing at double-digit rates, has been linked partly to demand for new devices and the steady expansion of services and emerging technologies traced in our artificial intelligence worldwide statistics overview.

The growth chart also shows how maturity changes the rhythm. In the early years, almost every quarter posted rapid gains as Apple expanded into new markets and categories. As the company grew enormous, growth became lumpier, with big jumps in launch quarters and flat or negative stretches in between. The long-run trend, however, remains firmly upward, a rare feat for a company already generating hundreds of billions of dollars in annual revenue.

4.5 Trillion Dollars and Counting

Adding up every quarter since fiscal 2005 reveals the staggering scale of Apple's business: roughly 4.5 trillion U.S. dollars in cumulative revenue between fiscal Q1 2005 and fiscal Q2 2026. From a company turning over a few billion dollars a quarter, Apple has generated trillions in little more than two decades, an accumulation few enterprises in history can match. The cumulative line climbs ever more steeply as quarterly revenue grows, a vivid picture of compounding scale.

This cumulative total underlines why Apple sits among the most valuable companies on earth. Trillions in revenue have funded enormous research and development, vast share buybacks and a cash pile that rivals the reserves of nations, helping cement Apple's place near the top of the rankings in our biggest companies by market value overview. The figure also frames the sheer momentum behind the company: each recent fiscal year now adds around 400 billion dollars to the running total.

The cumulative view also reframes how individual records should be read. A single recent holiday quarter now generates more revenue than Apple earned in several entire early fiscal years combined. That compression of scale, where one quarter eclipses years of past sales, captures how dramatically the company has grown. It also explains why even modest percentage growth today translates into tens of billions of additional dollars, sums that would have been transformative in Apple's earlier history. Viewed this way, the cumulative line is less a statistic than a record of how a single company turned a steady stream of quarterly sales into one of the largest pools of revenue ever assembled by a consumer business.

Revenue by Era

Grouping the quarters into eras captures Apple's transformation. The early era, fiscal 2005 to 2009, averaged only a few billion dollars a quarter, a business still built around the Mac and the iPod with the iPhone just emerging. The iPhone-boom era, fiscal 2010 to 2017, averaged far more as the smartphone scaled worldwide. The services era, fiscal 2018 to 2026, averages around ninety billion dollars a quarter, reflecting a mature hardware giant with a large and growing services arm.

The era averages show that Apple did not simply grow, it changed in kind. The early era was a fast-growing but still mid-sized technology company. The iPhone-boom era turned it into the defining consumer-electronics business of its generation. The services era represents today's Apple: a company whose hardware sales are enormous but increasingly complemented by recurring, high-margin services revenue, a pattern echoed across the broader device market covered in our global PC shipments analysis.

What the era averages cannot fully convey is how the center of gravity shifted within Apple's revenue. The early eras were dominated by the Mac and iPod; the boom era was overwhelmingly about the iPhone; and the latest era is increasingly shaped by services, wearables and a more diversified mix. This evolution has made Apple's revenue both larger and somewhat more resilient, less dependent on any single product launch than it was at the height of the iPhone boom. Yet even now the iPhone remains the largest single driver of those quarterly totals, anchoring a business that has nonetheless grown far broader than any one device.

Where the Revenue Comes From

Breaking the most recent fiscal year down by segment shows where Apple's revenue comes from today. In fiscal 2025, the iPhone alone generated around 210 billion dollars, just over half of all revenue, underlining how central the smartphone remains. Services, spanning the App Store, iCloud, Apple Music, advertising and more, contributed over 109 billion dollars, now comfortably Apple's second-largest segment. The Mac, iPad and the wearables, home and accessories category made up the remainder.

The rise of Services is the most important structural change in Apple's revenue mix. Once a rounding error, Services now generates more than 100 billion dollars a year at high margins, smoothing the seasonality and cyclicality of hardware sales. The wearables segment, built around the Apple Watch and AirPods, became a significant business in its own right, as charted in our worldwide wearable shipments analysis. Together these have made Apple less reliant on the iPhone than it was a decade ago, though the phone still anchors everything.

The segment mix also shapes how investors value Apple. Hardware revenue, though vast, is cyclical and lower-margin, while Services revenue is recurring and highly profitable, which is why its growth attracts particular attention. The iPhone's continued dominance means Apple's fortunes still rise and fall with each phone cycle, but the expanding Services and wearables segments give it additional engines of growth, even as the iPad holds a steady place in the lineup, as explored in our tablet industry revenue analysis.

The Holiday Quarter Spike

Isolating the holiday quarter, Apple's fiscal first quarter covering October to December, shows the seasonal engine of the business. This single quarter has grown from about 3.5 billion dollars in fiscal 2005 to a record 143.8 billion in fiscal 2026, as holiday demand for new iPhones, Macs and accessories peaks. The holiday quarter alone now generates more revenue than Apple earned in any full fiscal year before 2010, a striking measure of the company's growth.

The holiday quarter's dominance explains much of Apple's seasonality. Because so much of the year's iPhone demand lands in the December quarter, Apple's revenue spikes sharply at the turn of each calendar year and recedes through the spring and summer. This rhythm is so pronounced that comparing any quarter to the one before it can mislead; the meaningful comparison is always year over year, a pattern familiar from the quarterly shipment data in our quarterly smartphone shipments analysis.

Each record holiday quarter also serves as a barometer of Apple's health. The steady climb from a few billion dollars to well over a hundred billion in the December quarter tracks the company's expansion from a niche computer maker to a global consumer-technology giant. The most recent holiday quarters, setting all-time revenue records, suggest that even at enormous scale Apple can still find new demand, whether from new iPhone models, growing services or expanding markets. The holiday quarter also concentrates investor attention, since its scale can swing Apple's full-year result and set the tone for the year that follows, making it the single most closely watched period on the company's calendar.

A Strongly Seasonal Business

Averaging revenue by fiscal quarter across the years lays the seasonality bare. The fiscal first quarter, the holiday period, averages far more than any other, followed by the March quarter, with the June and September quarters typically the smallest before the next product cycle begins. This consistent shape reflects the timing of Apple's iPhone launches, which usually arrive in September, loading demand into the following holiday quarter.

Understanding this seasonal pattern is essential to reading Apple's results correctly. A sequential decline from the holiday quarter to the spring is normal and expected, not a sign of weakness, while a strong holiday quarter sets the tone for the fiscal year. The pattern also shapes how Apple manages its supply chain and marketing, concentrating its biggest launches around the period that drives the most revenue, a discipline that mirrors the vendor strategies in our smartphone market share by vendor analysis.

The seasonality has softened slightly as Services, which are less seasonal than hardware, have grown. Recurring revenue from subscriptions and the App Store flows in more evenly across the year, gently smoothing the peaks and troughs of device sales. Even so, the holiday quarter remains overwhelmingly Apple's largest, and the company's annual rhythm continues to revolve around the launch of new iPhones and the demand they generate through the winter.

The Arc in Five Quarters

A handful of milestone quarters trace Apple's entire arc. Fiscal Q1 2005 brought in about 3.5 billion dollars. By fiscal Q1 2012, the holiday quarter had passed 46 billion as the iPhone scaled. Fiscal Q1 2015 reached almost 75 billion on the strength of the iPhone 6, and fiscal Q1 2021 became Apple's first quarter above 100 billion dollars. The records kept falling, with fiscal Q1 2025 at 124 billion and fiscal Q1 2026 at a peak of 143.8 billion.

What stands out across these milestones is the accelerating pace of records. It took Apple decades to reach its first few billion-dollar quarters, but only a few years to leap from 50 billion to 100 billion and beyond. Each milestone marks not just a larger number but a new phase of scale, with the company repeatedly setting all-time quarterly revenue records as recently as fiscal 2026. The jump from the iPhone era to today has been extraordinary by any measure.

These milestone quarters also serve as benchmarks for just how large Apple has become. A single 143.8 billion dollar quarter exceeds the full-year revenue of all but a handful of companies worldwide. The progression from a few billion to well over a hundred billion in a quarter, achieved in about two decades, illustrates a rate and scale of growth that has few parallels in business history, and helps explain Apple's position among the most valuable enterprises ever created. Each of these milestone quarters marked a moment when Apple visibly outgrew its earlier self, and together they trace the steps by which a once mid-sized computer maker became one of the defining businesses of the modern era.

The Smoothed Trend

Because Apple's quarters are so seasonal, the clearest view of its underlying trajectory is the trailing twelve-month figure, the sum of the most recent four quarters. Plotting this rolling total smooths out the holiday spikes and reveals a remarkably steady upward climb, from under 14 billion dollars in the mid-2000s to more than 450 billion by early 2026. The line rises in steps that correspond to each major product cycle rather than the jagged peaks of the quarterly data.

The trailing-twelve-month view is how many analysts prefer to track Apple, precisely because it filters out seasonality and shows the genuine growth trend. It highlights the plateaus, such as the mid-2010s and 2019, and the surges, such as the pandemic period and the recent fiscal 2026 acceleration, more clearly than either the quarterly or annual charts alone. By early 2026, Apple's trailing-twelve-month revenue of around 451 billion dollars marked a fresh all-time high for the company.

Ultimately, the trailing-twelve-month line is the truest single picture of Apple's revenue: a long, steady ascent punctuated by the occasional pause, from a mid-sized technology company in 2005 to a 450-billion-dollar colossus two decades later. For anyone tracking the scale of modern technology businesses, Apple's smoothed revenue curve is among the most impressive on record, a fitting summary of a company that has redefined what size a consumer-technology firm can reach. Because it smooths away the seasonal swings, the trailing measure is often the fairest way to judge momentum, showing whether the underlying business is still expanding even when a single quarter looks soft beside the holiday peak.

Taken together, the quarterly data tells the full story of Apple's rise, from a business turning over about 3.5 billion dollars in the December quarter of 2004 to one generating a record 143.8 billion in the same quarter twenty-one years later. Annual revenue grew roughly thirtyfold to 416 billion dollars in fiscal 2025, the iPhone still provides about half of sales, and Services has grown into a business worth more than 100 billion dollars a year. Across the full period, Apple accumulated some 4.5 trillion dollars in revenue.

Yet the more important shift is structural. Apple has evolved from a hardware company driven by single product launches into a more diversified giant with a vast, recurring services business layered on top of the world's most profitable smartphone franchise. The questions ahead are whether new categories can power the next leg of growth and how far services can expand. The wider value this revenue supports is examined in our internet companies revenue overview. Either way, Apple's quarterly revenue history stands as one of the defining business records of the modern era, a near-uninterrupted ascent from a few billion dollars a quarter to more than a hundred billion, quarter after quarter. For analysts and investors alike, the quarterly record assembled here is the clearest lens on that transformation, and it remains the foundation for any view of where Apple goes next as it pushes deeper into services, wearables and new computing platforms.

Frequently Asked Questions: Apple Revenue