Apple revenue jumps 17% to $111.2 billion as iPhone and Mac sales surge

In its Q2 fiscal report for 2026, Apple has unveiled impressive financial results, showcasing a revenue of $111.2 billion for the quarter ending March 28, 2026. This represents a significant 17% increase compared to the same quarter last year. The tech giant also announced diluted earnings per share (EPS) of $2.01, reflecting a robust 22% growth year-over-year. The surge in revenue can be largely attributed to strong sales of the iPhone 17, alongside substantial contributions from its services sector, which encompasses subscriptions, the App Store, iCloud, and Apple Music. During the earnings call, CEO Tim Cook emphasized the successful launches of key products in the quarter, including the iPhone 17e, the M4 chip-equipped iPad Air, and the MacBook Neo. Further dissecting the financials, Apple reported an impressive operating cash flow exceeding $28 billion, underscoring the strength of its core business operations. Each revenue segment saw notable year-over-year growth. iPhone sales generated $57 billion, marking a 21.7% rise, while services climbed 16.3% to $31 billion. The iPad registered an 8% increase with $6.91 billion in revenue, the Mac experienced a 5.7% boost to $8.4 billion, and Wearables, Home, and Accessories also grew by 5.0%. In a pivotal moment for the company, Cook announced his forthcoming transition to Executive Chairman, expressing complete confidence in John Ternus, the incoming CEO. "This moment for the transition is the right one for a number of reasons," Cook stated. He praised Ternus as a brilliant engineer and a natural leader, stating, "I know he will push us to go further than we think is possible to deliver the greatest products and services for our users." Cook assured stakeholders that he will collaborate closely with Ternus to facilitate a seamless leadership transition, which is set to take effect on September 1, marking a new chapter for Apple.