Apple Reports Record Q2 2026 Revenue of $111.18B, Beats Estimates with 17% YoY Growth

Apple delivered strong second-quarter 2026 financial results, reporting revenue of $111.18 billion, up 17% year-over-year and beating analyst estimates of $109.66 billion. The company posted net income of $29.6 billion, representing a 19% increase from the same period last year.

Key Financial Highlights

• Revenue: $111.18B (vs. $109.66B estimated), up 17% YoY
• Net Income: $29.6B, up 19% YoY
• Share Buyback: Additional $100B authorized
• Records: March quarter records for total company revenue, iPhone revenue, and earnings per share
• Services: Reached new all-time high

Strong iPhone Performance Drives Growth

The standout performer was iPhone revenue, which set new March quarter records. The strong demand for the iPhone 17 was particularly notable, helping drive the company's overall revenue growth. Services revenue also reached a new all-time high, continuing Apple's trend of growing its higher-margin services business.

CEO Transition on the Horizon

The earnings call comes as Apple prepares for a significant leadership transition. CEO Tim Cook provided guidance for his successor, stating that the most important decision Apple's next CEO will make is "where he spends his time." This marks Cook's 89th earnings call as CEO.

Looking Ahead

Despite the strong performance, Apple noted expectations of "significantly higher memory costs" that could impact future iPhone and MacBook Neo products. The company continues to invest heavily in artificial intelligence capabilities and services growth.

The results demonstrate Apple's continued ability to generate strong financial performance across its product portfolio, with particular strength in its flagship iPhone business and growing services segment.