Apple Reports Record Q2 2026 Revenue of $111.18B, Up 17% Year-over-Year

Apple announced its Q2 2026 financial results, reporting revenue of $111.18 billion, a 17% increase year-over-year that surpassed analyst estimates of $109.66 billion. The tech giant also saw net income rise 19% to $29.6 billion.

Key Financial Highlights

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

Product Performance

The iPhone 17 was a major driver of growth, with iPhone revenue reaching record levels for the March quarter. Mac sales also contributed to the strong performance, helping fuel overall growth.

Regional Performance

Apple's results showed mixed regional performance:

• China: Results above projections
• Americas and Europe: Results below expectations

Forward Guidance

For the June quarter (Q3), Apple provided guidance for 14% to 17% revenue growth. However, the company warned of "significantly higher memory costs" in the June quarter and beyond.

Leadership Transition Context

This earnings report comes as Apple prepares for a significant leadership transition, with CEO changes ahead. The strong results represent one of Tim Cook's final earnings calls as CEO.

Market Impact

The earnings beat, combined with the substantial share buyback authorization, demonstrates Apple's confidence in its financial position and future prospects despite some regional headwinds and increasing component costs.