finance
Apple Reports Record $111.2 Billion Revenue in Fiscal Q2 2026
Apple announced its fiscal second-quarter results, posting $111.2 billion in revenue, driven by strong iPhone and services sales. Incoming CEO John Ternus and CFO Kevan Parekh emphasized continued financial discipline amid the leadership transition. Shares rose more than 3% following the earnings beat.
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Apple Inc. reported revenue of $111.2 billion for its fiscal second quarter of 2026, marking a 17% increase year over year and surpassing analyst estimates of $109.46 billion. iPhone revenue reached $57 billion, up 22% from the previous year, slightly exceeding expectations of $56.66 billion.
The company's diluted earnings per share stood at $2.01, reflecting a 22% rise. Sales in China grew 28% to $20.5 billion during the quarter. The services segment achieved an all-time revenue record of $30.9 billion, compared to $26.6 billion a year earlier.
Apple noted shortages of MacBooks and iPhones in stores, with CEO Tim Cook attributing the earnings beat to demand despite these constraints.
Tim Cook, Apple's CEO, will transition to executive chairman on September 1, after 15 years in the role. John Ternus, a longtime hardware executive, will succeed him as CEO. On the earnings call, Ternus described Cook as one of the greatest business leaders of all time and highlighted CFO Kevan Parekh as a strategic partner.
“One of the hallmarks of Tim’s tenure has been deep thoughtfulness, deliberateness, and discipline when it comes to the company’s financial decision-making. I want you to know that is something Kevan and I intend to continue when I transition into the role in September.”
Parekh, who became CFO in January 2025, provided forward-looking guidance projecting 14% to 17% year-over-year revenue growth for the third quarter, above the previously expected 9%. He reaffirmed the company's capital allocation strategy, focusing on R&D investments, dividends, buybacks, and maintaining a net cash-neutral position.
