Apple has reported a sharp rise in global demand for its products, driven largely by strong performance in China and sustained momentum for the iPhone lineup.
The company said overall revenue grew by 17% to $111 billion in the first quarter, compared to the same period last year, with sales in China increasing by 28%, making it the fastest-growing regional market.
Chief Executive Officer Tim Cook described demand for the latest iPhone models as “extraordinary,” noting that the iPhone 17 had become the most successful launch in the company’s history.
Despite the strong performance of the iPhone, sales of other Apple products such as Mac computers and wearable devices remained largely stable. However, Cook said the newly released MacBook Neo was experiencing exceptionally high demand, contributing to record first-time Mac purchases during the quarter.
On the company’s artificial intelligence direction, Cook said Apple Intelligence will be further integrated into its ecosystem, including enhancements to Siri. He emphasized that Apple’s approach focuses on embedding AI seamlessly into devices while maintaining strong privacy protections.
Rather than building standalone AI systems, Apple continues to partner with external firms such as OpenAI and Google to power selected features, a strategy that has drawn both praise and criticism for its cautious pace compared to rivals.
Cook also acknowledged the company’s leadership transition, praising incoming chief executive John Ternus ahead of his planned assumption of the role on September 1. Ternus, currently a senior hardware executive, said Apple’s future product pipeline remains strong and highlighted continued focus on disciplined growth.
Meanwhile, Reddit also released its latest financial results, reporting a significant surge in revenue alongside rising global user engagement. The platform said weekly U.S. users have surpassed 200 million, with ambitions to scale daily global usage to one billion.
Chief Executive Ladd Huffman said increasing daily engagement remains central to both Reddit’s mission and business model, noting that the platform is also becoming an important source of training data for artificial intelligence systems through licensing agreements with companies such as OpenAI and Google.
However, Roblox faced investor concerns despite reporting user and revenue growth. Its shares fell sharply after it introduced stricter age verification measures that affected user engagement and new sign-ups. The company also lowered its financial outlook for the year, with Chief Executive David Baszucki noting that the changes temporarily slowed platform growth.
Roblox remains unprofitable since its public listing in 2021, adding to investor caution despite its expanding user base.
