Apple Reports First-Quarter 2026 Earnings

Apple reported revenue of $111.18 billion for the quarter ending March 2026, according to company statements cited across multiple outlets. This figure represents a 17% increase from $95.36 billion in the same period the previous year. Earnings per share were $2.01, up 22% from the prior year.

com reporting an expected earnings per share of $1.93 and revenue of $108.9 billion, while other estimates varied slightly, such as $1.95 per share and $109.46 billion in revenue from FactSet Research as noted in some coverage.

iPhone revenue totaled $56.99 billion, comprising the largest portion of overall revenue and reflecting more than 20% growth for the second straight quarter, according to Yahoo Finance. The company attributed this to demand for the iPhone 17 lineup, which it described in a release as achieving a March quarter revenue record.

However, Reuters reported that iPhone sales faced supply constraints during the period, while Mac products contributed to the overall sales beat. Apple introduced the iPhone 17e and MacBook Neo in March 2026, aimed at affordable market segments. The company has not yet implemented its previously announced AI enhancements to Siri.

In geographic terms, the quarter showed double-digit revenue growth in all segments. Apple stated this was its best March quarter ever. The prior quarter, ending December 2025, included record iPhone sales. No publicly released evidence from the company detailed specific supply chain issues beyond the constraints mentioned in Reuters reporting.

Separately, Apple CEO Tim Cook announced in April 2026 that he would step down from the role on September 1, 2026, with John Ternus, head of hardware engineering, taking over. Cook, who succeeded Steve Jobs 15 years ago, will remain as executive chairman.

Under Cook's leadership, Apple's market value grew by more than $3.6 trillion, largely due to iPhone performance. Ternus participated in an analyst call after the earnings release. "This is the most exciting time in my 25 year career at Apple to be building products and services.

There are so many opportunities before us, and I couldn’t be more optimistic about what’s to come," Ternus said during the call, as reported by The Independent.

BBC News reported Apple described iPhone demand as "extraordinary" in the context of Cook's departure. The Financial Times noted the company credited its "most popular" iPhone ever for the sales growth. Following the announcement, Apple's shares moved lower, with MarketWatch reporting that iPhone sales narrowly beat expectations.

No comments from competitors or skeptical analysts appeared in the reviewed sources, including Reuters, BBC News, and The Independent. The company is headquartered in Cupertino, California.