Apple Inc. Quarterly Report for Q2 Ended Mar 28, 2026

Summary

Apple Inc. reported robust financial results for the quarter ended March 28, 2026, demonstrating strong top-line growth and improved profitability. Total net sales increased by 17% year-over-year to $111.2 billion, driven by a significant 22% surge in iPhone sales and a healthy 16% increase in Services revenue. This growth was observed across most geographic segments, with Greater China showing particularly strong performance with a 28% increase in net sales. The company also saw a substantial improvement in gross margin, which rose to 49.3% from 47.1% in the prior year period, reflecting a favorable product mix and strong Services performance. Operating income grew by approximately 21% year-over-year, showcasing effective cost management despite increased R&D spending. Diluted earnings per share saw a corresponding increase to $2.01 from $1.65, underscoring the company's ability to translate sales growth into shareholder value. Apple continues its aggressive capital return program, repurchasing $11.0 billion in stock and raising its quarterly dividend, signaling confidence in its ongoing financial strength and future prospects.

Key Highlights

• 1Total net sales surged 17% year-over-year to $111.2 billion for the quarter ended March 28, 2026.
• 2iPhone sales were a significant growth driver, increasing by 22% to $57.0 billion.
• 3Services revenue continued its strong trajectory, up 16% to $31.0 billion.
• 4Gross margin improved to 49.3% from 47.1% in the prior year quarter, driven by product mix and Services.
• 5Operating income increased by approximately 21% to $35.9 billion.
• 6Diluted earnings per share rose to $2.01, compared to $1.65 in the prior year quarter.
• 7The company announced an additional $100 billion share repurchase authorization and increased its quarterly dividend to $0.27 per share.

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