Cryptopolitan
2026-04-30 20:47:49

Apple beat estimates with $111.18 billion in revenue and $2.01 in diluted EPS

Apple (AAPL) beat Wall Street’s fiscal second-quarter targets with $111.18 billion in revenue and $2.01 in diluted earnings per share, while iPhone sales reached $56.99 billion and missed the analyst forecast by a small margin. Analysts polled by LSEG had expected $109.66 billion in revenue and $1.95 in EPS. The stock barely changed in extended trading after the report, because the numbers were strong, but not spotless. The cleanest part of the quarter came from Services, not hardware. Services revenue climbed to $30.98 billion, up from $26.65 billion a year earlier. iPhone revenue rose from $46.84 billion to $56.99 billion, but analysts expected $57.21 billion. That was the only major line in the report that fell short, and it was the second iPhone miss in three quarters. Apple beats profit and revenue targets as Services revenue hits a new high Tim Cook, Apple’s CEO, said, “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.” Tim also said the iPhone reached a March-quarter revenue record because of demand for the iPhone 17 lineup. He said Services reached another all-time record during the quarter. Tim also pointed to new products added to Apple’s lineup, including the iPhone 17e, the M4-powered iPad Air, and MacBook Neo. Kevan Parekh, Apple’s CFO, said, “Our strong business performance during the March quarter generated over $28 billion in operating cash flow and drove new March quarter records for both operating cash flow and EPS.” Kevan said demand for Apple’s products and services helped push the company’s active device base to a new all-time high across every major product category and region. For the three months ended March 28, Apple posted $80.21 billion in product revenue, compared with $68.71 billion in the same quarter last year. Services brought in $30.98 billion, up from $26.65 billion. Total net sales were $111.18 billion, compared with $95.36 billion a year earlier. Apple’s product costs came in at $49.18 billion, up from $44.03 billion. Services costs reached $7.22 billion, compared with $6.46 billion. Total cost of sales was $56.40 billion, while gross margin reached $54.78 billion. Apple’s research and development costs rose to $11.42 billion from $8.55 billion. Selling, general, and administrative expenses reached $7.48 billion, up from $6.73 billion. Total operating expenses came in at $18.90 billion. Apple reports stronger regional sales and approves a $100 billion buyback Apple’s operating income reached $35.89 billion, up from $29.59 billion last year. Other expense was $52 million, down from $279 million. Income before taxes was $35.83 billion. Apple paid $6.26 billion in tax costs, leaving net income at $29.58 billion, compared with $24.78 billion a year earlier. For the first six months of the fiscal year, Apple reported $254.94 billion in total net sales, up from $219.66 billion. Products brought in $193.95 billion, while Services produced $60.99 billion. Total cost of sales for the six-month period was $130.93 billion. Gross margin reached $124.01 billion. Six-month operating expenses were $37.28 billion, with R&D at $22.31 billion and SG&A at $14.97 billion. Operating income reached $86.74 billion. Income before taxes was $86.84 billion. Apple’s net income came in at $71.68 billion, up from $61.11 billion. Regional sales were higher across the board. Americas’ revenue reached $45.09 billion, up from $40.32 billion. Europe came in at $28.06 billion, compared with $24.45 billion. Greater China produced $20.50 billion, up from $16.00 billion. Japan posted $8.40 billion, while the rest of the Asia Pacific reached $9.14 billion. By product line, Apple’s Mac revenue was $8.40 billion, compared with $7.95 billion. iPad revenue reached $6.91 billion, up from $6.40 billion. Wearables, Home, and Accessories brought in $7.90 billion, compared with $7.52 billion. Basic EPS was $2.02, up from $1.65. Diluted EPS was $2.01, also above $1.65 last year. Basic shares used in the EPS count fell to 14.67 billion from 14.99 billion. Diluted shares fell to 14.73 billion from 15.06 billion. If you're reading this, you’re already ahead. Stay there with our newsletter .

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