Apple Inc. (AAPL) released its fiscal 2026 second-quarter results after the market closed on April 30, Eastern Time. The company posted total revenue of $111.18 billion for the quarter, representing a significant year-over-year increase of 17%, surpassing Wall Street expectations of $109.66 billion. The growth was primarily driven by explosive global demand for the iPhone 17 series and a strong recovery in the Mac business. Net profit reached $29.58 billion, up 19% year-over-year, setting a new record for the March quarter; diluted earnings per share were $2.01, exceeding market expectations of $1.95. Gross margin climbed to 49.3%, demonstrating extremely strong profitability.
By product line, iPhone revenue for the single quarter reached $56.99 billion, an increase of approximately 24% year-over-year. Management stated that the iPhone 17 series has become the company’s most popular model during this period. Services revenue hit a record high of $30.01 billion, and its gross margin exceeding 70% continues to optimize the profit structure. The Mac business rebounded to $8.40 billion, while the iPad business achieved $6.91 billion, driven by demand for new models, up about 24% year-over-year. The wearables, home, and accessories business remained steady at $7.90 billion.
Among regional markets, Greater China revenue reached $25.50 billion, reversing the previous downward trend and achieving double-digit growth. During a conference call, Tim Cook emphasized his optimistic long-term view of the Chinese market. The Americas and Europe contributed $45.09 billion and $28.06 billion, respectively.
Apple’s board approved an additional $100 billion in stock buybacks and raised the quarterly dividend by 4% to $0.27 per share. At the same time, Apple announced that current hardware chief John Ternus will officially succeed Tim Cook as CEO in September 2026, with Cook transitioning to Executive Chairman, marking the company’s entry into a new era of management.
Although Apple expects to maintain high growth guidance of 14% to 17% for the third fiscal quarter, it also issued a warning: a shortage of memory chips caused by surging global AI demand could constrain hardware supply. Cook confirmed the company’s deep layout in artificial intelligence, including the recent acquisition of AI startup Q.ai, and plans to introduce more intelligent services to drive revenue growth.
Following the earnings release, Apple’s stock initially fell more than 1% in after-hours trading. However, after executives indicated that third-quarter revenue growth would significantly exceed analysts’ expectations of 9.1%, the stock reversed course and turned positive, rising more than 4% at one point in after-hours trading. As of press time, the stock was up 2.03% after hours.
