Apple has reported its financials for the second quarter of 2026, posting a second-quarter record of $111.2 billion with gains almost across the board that exceed the expectations of Wall Street analysts.
The second quarter of Apple's financial calendar has ended, and is usually a fairly quiet affair following the blockbuster first-quarter figures. For 2026, Q2 has a fair bit of expected spice, due to the John Ternus announcement.
In the quarter, Apple's revenue hit $111.2 billion, up from the $95.4 billion reported in the year-ago quarter.
The Wall Street consensus as of April 29 was an average of $109.69 forecast.
Apple quarterly revenue and net profit as of Q2 2026
When it comes to product categories, iPhone revenue of $56.99 billion is up from $46.84 billion in Q2 2025. Mac revenue of $8.4 billion is up from $7.95 billion.
The iPad revenue of $6.9 billion is a positive move from last year's dip to $5.56 billion. Wearables, Home, and Accessories shifted from $7.5 billion in the year-ago period to $7.9 billion now.
Services, the ever-dependable product category, continued its ever-ongoing growth path, from $26.6 billion in Q2 2025 to $30.9 billion now.
During Q1, Apple enjoyed some post-holiday product launches, including the M4 iPad Air, the iPhone 17e, the M5 upgrade to the MacBook Air, and the M5 Pro and M5 Max MacBook Pro. It also launched the Apple Studio Display update, the Pro Display XDR was replaced by the Studio Display XDR, and the MacBook Neo shocked the notebook industry.
This took place to a backdrop of continually rising prices for memory and other components, which Apple has so far insulated itself from. Analysts will be keen to find out Apple's plans to take on this problem, as well as its AI strategy.
Apple also announced that it is launching an additional $100 billion share repurchase program. The quarterly dividend has also been increased, rising 4% to $0.27 per share.
Apple quarterly revenue by unit as of Q2 2026
Current-CEO Tim Cook commented that there was double-digit growth across every geographic segment, with iPhone also achieving a March quarter revenue record, thanks to iPhone 17 demand.
Kevan Parekh, CFO, added that there were new March quarter records for operating cash flow and EPS. "Continued strong customer demand for our products and services once again helped us achieve a new all-time high for our installed base."
However, the biggest talking point for the results will be the announcement of a CEO transition later in 2026. On September 1, Tim Cook will become executive chairman, with hardware chief John Ternus taking the reins.
While Ternus won't be involved in the usual conference call with analysts that follows the results release, he will be a hot topic of conversation as analysts try to determine how the future governance of the company will go.
As always, AppleInsider will be listening in to the call, no matter where the conversation flows.
