IT Home, November 3: During the latest earnings call, Apple's Chief Financial Officer Kevan Parekh forecasted that revenue for the first quarter of fiscal year 2027 will reach $158.18 billion, a 10% year-over-year increase, setting a new record for Apple's quarterly revenue.
According to publicly available information queried by IT Home, Apple's single-quarter revenue record was set in the first quarter of fiscal year 2026, with revenue reaching $143.756 billion, representing a 16% year-over-year growth.
Parekh stated on the latest earnings call that, after accounting for supply constraints, revenue for the first quarter of fiscal year 2027 is expected to reach up to approximately $158.18 billion, representing a year-over-year growth of 7% to 10%.
For Apple, the first fiscal quarter, which includes the holiday shopping season, is typically the highest-revenue and most profitable quarter of the year; if guidance is met, hardware sales such as the iPhone and high-retention services will continue to drive growth. Apple expects service revenue to increase 8% to 9% year-over-year, sustaining its high-margin, recurring-revenue-driven growth model.
However, the company’s overall gross margin is expected to range between 45% and 46%, facing pressure due to rising memory costs and related investments in expanding Siri’s AI capabilities. Regarding expenses, Apple anticipates operating expenses of $20.4 billion to $20.8 billion, with an effective tax rate of approximately 17%.