Apple delivered solid Q2 results, driven by record Services revenue and resilient demand for its products. This performance comes at a pivotal moment as the company begins its leadership transition, with John Ternus set to succeed
Tim Cook as CEO in September. Management emphasised operational continuity. While the face of leadership is changing, the core strategies regarding product innovation and capital allocation remain in place.
| Financial indicator |
Q2 2025 (US$ million) |
Q2 2026 (US$ million) |
Percentage change |
| Revenue |
95,359 |
111,184 |
+16.6% |
| Products |
68,714 |
80,208 |
+16.7% |
| Services |
26,645 |
30,976 |
+16.3% |
| Net income |
24,780 |
29,578 |
+19.4% |
| Diluted earnings per share (US$) |
1.65 |
2.01 |
+21.8% |
Apple posted a record March revenue quarter, underpinned by double-digit growth across developed and emerging markets amid a 2.5% foreign exchange tailwind. Despite constraints on iPhone and to a smaller extent on Mac, products revenue rose 16.7% year-on-year. The issue stemmed from limited supply of the advanced semiconductor nodes required for SoC (System-on-Chip) production. Without these impacts, quarterly revenue would have been higher....
