Apple reports another record breaking quarter in terms of revenue and product portfolio growth. The company’s fiscal 2026 second quarter results indicate quarterly revenue of $111.2 billion, that is up 17% year on year. That underlines solid numbers across their product portfolio, snapshotted by iPhone revenue that’s up 22%, Mac revenue that’s increased 6%, iPad revenue too increasing by 8%, alongside wearables (5%) and services (16%) rounding off the trajectory across the product lines.
Apple’s robust numbers are in stark contrast to Meta which reported that it lost 20 million ‘Family Daily Active Users’ in the quarter — a term the company previously coined for collective users across Facebook, WhatsApp, Instagram and Messenger. While Meta insists they will pump billions more into AI investments this year, users are seemingly abandoning its apps and services. Nevertheless, Meta’s revenue has grown to $56.3 billion in this quarter, up from $42.3 billion year on year. Worrying through would be the Reality Labs unit, which has reported operating losses of $4.03 billion, and has seen two waves of employee layoffs since the start of the year.
Latest quarterly numbers from Apple comes days after the leadership transition was announced — Tim Cook will hand over the reigns Apple Inc. to John Ternus, who will become Apple’s next chief executive officer effective on September 1. Cook will transition to becoming executive chairman of Apple’s board of directors. More than anything else, these numbers underline the fact that Cook is handing over the business to Ternus, with the numbers and product lines in perfect financial health.
“Today Apple is proud to report our best March quarter ever, with revenue of $111.2 billion and double-digit growth across every geographic segment. iPhone achieved a March quarter revenue record, fuelled by such extraordinary demand for the iPhone 17 lineup. During the quarter, Services achieved yet another all-time record, and we were excited to introduce remarkable new products to our strongest lineup ever,” said Tim Cook, Apple’s CEO.
“That included the addition of the iPhone 17e and the M4-powered iPad Air, along with the launch of MacBook Neo, which is captivating customers all around the world,” he added. During the earnings call, Apple emphasised that they were confident about MacBook Neo sales estimates internally before launch in March, and actual traction in stores in terms of sales, has been higher than expected.
Company CFO Kevan Parekh notes that the March quarter generated over $28 billion in operating cash flow, which is a quarterly record for this period. Geographically as well, Apple has reported increase in net sales across Asia Pacific including India, the US, Europe, Greater China and Japan. For Apple, the iPhone returned almost $57 billion in revenue, up from $46.8 billion in the same period last year. Services too, at $30.9 billion, significantly up from $7.2 billion last year.
The affordable price tag, starting ₹69,900 in India, is the lowest priced MacBook in the portfolio. It is powered by an iteration of Apple’s A18 Pro chip that’s previously been seen on the iPhone 16 Pro series. Products marking a lower than usual entry price to a line-up, have been a theme for Apple in the first half of 2026. The iPhone 17e was also released, priced ₹64,900 onwards, making it the most affordable current generation iPhone.
Apple has robust financial and sales momentum heading into this summer’s annual Worldwide Developer Conference (WWDC), with expectations of a renewed Apple Intelligence push, likely underlined by a new Siri assistant and the addition of Google’s Gemini models.
