Apple Posts $111 Billion Quarter as iPhone and Services Drive Record Revenue

Apple reported fiscal second-quarter 2026 revenue of $111.2 billion, a 17 percent increase from the same period last year. The results beat Wall Street expectations and pushed the company''s stock higher.

iPhone revenue reached $56.99 billion for the quarter. The Services business, which includes the App Store, Apple Music, iCloud, and Apple TV+, set a new record at nearly $31 billion, growing 16 percent year over year.

Diluted earnings per share came in at $2.01, up 22 percent from a year ago. Apple also announced a new $100 billion share buyback authorization, one of the largest in corporate history.

Chief Executive Tim Cook said demand for iPhone remained strong across all major markets. The company''s installed base of active devices reached a new all-time high during the quarter.

The Services segment has become an increasingly important part of Apple''s business. It now generates more revenue than any other product category except iPhone and carries higher profit margins than hardware.

Apple''s results stand out in a tech sector where investors are scrutinizing the return on massive AI spending. Microsoft reported $82.9 billion in revenue and 40 percent growth in its Azure cloud business, but shares slipped after capital expenditures surged 49 percent to $31.9 billion. Amazon''s AWS revenue grew 28 percent to $37.6 billion, its fastest growth in nearly four years.

Alphabet''s stock rose 34 percent in April, and Google Cloud''s growth reportedly surpassed both Microsoft and Amazon during the quarter.

Intel''s stock more than doubled in April, its best monthly performance in 55 years, though the company continues to work through a restructuring.

Apple did not provide specific guidance for the next quarter but said it expects continued growth in Services and stable iPhone demand.