- Apple reported a second quarter revenue of $111.18 billion and an earnings per share of $2.01
- Wall Street was expecting earnings of $1.94 per share on a revenue of $109.73 billion, per analyst estimates compiled by Yahoo Finance
- iPhone sales were up 22% while revenue from the services division, which includes Apple TV, rose 16.3%
Apple posted fiscal second-quarter earnings and revenue that beat Wall Street expectations, with revenue hitting $111.18 billion as the tech giant gears up for a regime shift with Tim Cook stepping down as CEO and prepares to welcome John Ternus into the role.
The second-quarter revenue soared past the analyst estimate of $109.73 billion, as did Apple’s earnings, which hit $2.01 per share this quarter, as compared to the Wall Street estimate of $1.94 per share. Revenue was up 17% year-over-year and earnings per share saw a 22% rise compared to last year. Net income was $29.58 billion, compared to $24.78 billion a year ago.
After last quarter saw “staggering” demand for the new iPhone 17, sales for the new upgrade continued to trickle into the second quarter, with iPhone sales hitting $56.99 billion, compared to $46.84 a year ago, rising 22% percent. Cook flaunted that “iPhone achieved a March quarter revenue record, fueled by such extraordinary demand for the iPhone 17 lineup.”
Apple’s services, which includes Apple TV, Apple Music, iCloud, its App Store and more, also saw double-digit percentage growth, with the division bringing in $30.98 billion. That’s up more than 16% from a year ago, when the second-quarter of 2025 saw services bring in $26.65.
The report comes as Cook, who took over the role from founder Steve Jobs in 2011, gears up to step down from the role to become executive chairman later this year. He’ll be succeeded by Ternus, who currently serves as SVP of hardware engineering, with the company setting a Sept. 1 as a target for Ternus to transition into the role.
“It has been the greatest privilege of my life to be the CEO of Apple and to have been trusted to lead such an extraordinary company,” Cook said in a statement. “I love Apple with all of my being, and I am so grateful to have had the opportunity to work with a team of such ingenious, innovative, creative, and deeply caring people who have been unwavering in their dedication to enriching the lives of our customers and creating the best products and services in the world.”
More to come …