Apple releasesQ2 FY2026In the financial report, driven by the growth of its services business, both profit and revenue exceeded analyst expectations. iPhone sales in the past three quartersThe second time it fell short of market expectations, which is also the only core performance data in this Thursday’s financial report that is significantly lower than expected. The company said in a statement on Thursday that quarterly revenue rose 17% year-on-year to $111.2 billion, above analysts' average estimate of $109.7 billion. Apple had previously forecast sales growth of 13% to 16%. Earnings per share (EPS) were $2.01.
The market also focuses on the performance of the following core business sectors:
iPhone revenue:US$56.99 billion, expected US$57.21 billion
Mac revenue:$8.4 billion, above expectations of $8.02 billion.
iPad revenue:$6.91 billion, higher than expectations of $6.66 billion.
Wearable devices, home and accessories business revenue:$7.9 billion, higher than expectations of $7.7 billion.
Service revenue:$30.98 billion, higher than the $30.39 billion expected.
Gross profit margin:49.3%, expected 48.4%.
Apple said revenue in the quarter was up from $95.4 billion in the same period last year.17% year-on-year growth. This is after Apple officially announced last week that Tim Cook, its CEO after 15 years, will step down.Discloses quarterly earnings to Wall Street for first time.
Apple said its board of directors approvedAn additional $100 billionstock repurchase program and announced a dividend of $0.27 per share, a 4% year-over-year dividend increase.
iPhone sales rose 22% year over year in the quarter.Like other consumer electronics and hardware manufacturers, Apple is facing supply chain tensions, mainly due to the surge in AI demand.Global memory chip shortage. Meta and Microsoft said on Wednesday that higher memory chip prices were an important reason for raising their capital expenditure forecasts for this year.
Cook said on the earnings call that the iPhone 17 series has now become “the most popular model lineup in Apple’s history,” notingDespite supply chain constraints, the company's overall revenue still exceeded performance guidance.
In March this year, Apple released a number of new products, including iPhone 17e and new 11-inch and 13-inch iPad Air equipped with M4 chips. The biggest highlight of this conference isMacBook NeoAffordable laptop priced at $599, targeting students and consumers on a budget.
Hardware product sales have always been the core pillar of Apple's performance, but what Wall Street is most concerned about right now isNew CEO John Ternusfuture strategic layout. Apple officially announced on April 20 that Ternus will succeed Cook; Cook will transition to executive chairman on September 1.
Ternus, a senior executive who has long been in charge of Apple's hardware business, attended the earnings call and was officially introduced by Cook. "We have prepared the right successor to take over as CEO," Cook said in his opening remarks, adding that Apple has a top team and the ability to deliver on the company's future development vision.
Ternus expressed his gratitude to Cook and Apple shareholders and said that the company has a bright futureDevelopment plan with great potential. Ternus said: "I will not disclose the specific details of this plan, but what is certain is that this is my 25 years of working at Apple, developing products and services.most exciting period. "
One of Ternus's first urgent tasks after taking office is to finalize Apple's development direction in the field of artificial intelligence. Earlier this quarter, Apple announced it would partner with Google to plug into GoogleGemini artificial intelligence large model, providing technical support for the Siri intelligent voice assistant.
Apple's services revenue increased by about 16% year-on-year in the quarter, to $309.8 billion from $266.55 billion in the same period last year.Apple relies on its huge iPhone user base to promote services such as entertainment service subscriptions, Apple Pay, iCloud cloud storage, and AppleCare official protection services.
The continued growth of the services business has further pushed up Apple's overall profit margin. Apple's gross profit margin has hovered above 38% all year round, and has risen steadily in recent years, from 48.2% in the previous quarter to 49.3% in this quarter.
Apple this quarterGreater China sales increase to $20.5 billion, a year-on-year increase of 28% from US$16 billion in the same period last year.
The company's R&D investment in this quarter grew much faster than revenue growth, with R&D expenses soaring 33% year-on-year, rising to US$11.42 billion from US$8.55 billion in the same period last year.