Apple’s Q2 2026 earnings exceeded Wall Street estimates, with EPS of $2.01 and revenue of $111.2 billion. Strong iPhone 17 sales, a robust Services performance, and a surprising 28% jump in Greater China revenue drove the results. The company also announced a CEO transition, with Tim Cook stepping down in September and John Ternus taking over. Following the report, AAPL stock rose in after-hours trading, nearing its all-time high of $288.62.
Apple reported second-quarter earnings that surpassed analyst expectations on nearly every metric. The company posted an EPS of $2.01, beating the $1.96 estimate, and revenue of $111.2 billion, clearing the $109.66 billion forecast.
Strong iPhone 17 sales, solid Services revenue, and a surprise jump in Greater China sales contributed to the beat. CEO Tim Cook stated “The iPhone 17 is now the most popular lineup in our history.”
Mac revenue reached $8.4 billion, aided by demand for the new MacBook Neo and Mac mini. Services revenue came in at $30.98 billion, while Greater China revenue increased 28% year-over-year to $20.5 billion.
The earnings call confirmed supply constraints for iPhones and Macs due to a global memory shortage. Cook addressed the issue directly, stating “We expect significantly higher memory costs” in the current quarter.
This was the first earnings call since the announcement that Cook will step down as CEO in September. John Ternus, the incoming CEO, joined the call and told investors “This is the most exciting time in my 25-year career at Apple to be building products and services.”
Cook also confirmed Apple now works with Google to integrate the Gemini AI model into Siri. He said “The collaboration with Google is going well.”
Following the report, AAPL stock rose from $271.35 at close to as high as $278.02 in after-hours trading. The board approved a new $100 billion buyback and raised the dividend 4% to $0.27 per share.
