Apple Inc. (AAPL) Q2 2026 Financial Results Summary

On April 30, 2026, Apple Inc. released its financial results for its fiscal 2026 second quarter, which ended on March 28, 2026.

Key Financial Highlights

• Total Revenue: $111.2 billion, an increase of 17% compared to $95.4 billion in Q2 2025.
• Diluted Earnings Per Share (EPS): $2.01, up 22% from $1.65 in Q2 2025.
• Operating Cash Flow: Over $28 billion generated during the quarter, setting a record for Q2.
• Cash Dividend: A cash dividend of $0.27 per share declared, which represents an increase of 4% from the previous dividend.
• Share Repurchase: The board has authorized a stock repurchase program of up to $100 billion.

Revenue Breakdown

• Products Revenue: $80.2 billion, up 17% year over year from $68.7 billion.
• Services Revenue: $31.0 billion, an increase of 16% compared to $26.6 billion in Q2 2025.

Segment Revenue

• Americas: $45.1 billion, up 12% from $40.3 billion.
• Europe: $28.1 billion, an increase of 15% year over year.
• Greater China: $20.5 billion, a rise of 28% from $16.0 billion.
• Japan: $8.4 billion, up 15% from $7.3 billion.
• Rest of Asia Pacific: $9.1 billion, an increase of 25% from $7.3 billion.

Product Category Sales

• iPhone: $57.0 billion, up 22% from $46.8 billion.
• Mac: $8.4 billion, an increase of 6% from $7.9 billion.
• iPad: $6.9 billion, up 8% from $6.4 billion.
• Wearables, Home, and Accessories: $7.9 billion, up 5% compared to $7.5 billion.
• Services: $31.0 billion, growing 16% from $26.6 billion.

Operating Income and Expenses

• Operating Income: $35.9 billion, a 21% increase from $29.6 billion in Q2 2025.
• Total Operating Expenses: $18.9 billion, representing a 24% increase compared to $15.3 billion year over year. This includes $11.4 billion in research and development, and $7.5 billion in selling and administrative expenses.

Net Income

• Net Income: $29.6 billion, an increase of 19% from $24.8 billion in Q2 2025.

Balance Sheet Highlights

• Total Assets: $371.1 billion, compared to $359.2 billion at the end of Q4 2025.
• Total Liabilities: $264.6 billion, reduced from $285.5 billion in the previous quarter.
• Shareholders’ Equity: $106.5 billion, up from $73.7 billion in the previous quarter.
• Cash and Cash Equivalents: $45.6 billion, up from $35.9 billion.

Cash Flow Summary

• Cash Generated by Operating Activities: $82.6 billion compared to $53.9 billion during the same period last year.
• Cash Used in Investing Activities: -$11.1 billion, down from a positive inflow of $12.7 billion in Q2 2025.
• Cash Used in Financing Activities: -$61.9 billion, improved from -$68.4 billion year-over-year.

Conclusion

The fiscal Q2 2026 financial results for Apple Inc. showcase strong growth across all major metrics, highlighting the company's robust performance in both product and services revenue. The increase in EPS and the declaration of a dividend reflect the company's commitment to returning value to shareholders while continuing to expand its operational capabilities.

Note: All amounts are in thousands/millions.

Three Months Ended	March 28, 2026	March 29, 2025	March 28, 2026	March 29, 2025
Net sales:
Products	$80,208	$68,714	$193,951	$166,674
Services	$30,976	$26,645	$60,989	$52,985
Total net sales(1)	$111,184	$95,359	$254,940	$219,659
Cost of sales:
Products	$49,179	$44,030	$116,657	$103,477
Services	$7,224	$6,462	$14,271	$13,040
Total cost of sales	$56,403	$50,492	$130,928	$116,517
Gross margin	$54,781	$44,867	$124,012	$103,142
Operating expenses:
Research and development	$11,419	$8,550	$22,306	$16,818
Selling, general and administrative	$7,477	$6,728	$14,969	$13,903
Total operating expenses	$18,896	$15,278	$37,275	$30,721
Operating income	$35,885	$29,589	$86,737	$72,421
Other income/(net)	$-52	$-279	$98	$-527
Income before provision for income taxes	$35,833	$29,310	$86,835	$71,894
Provision for income taxes	$6,255	$4,530	$15,160	$10,784
Net income	$29,578	$24,780	$71,675	$61,110
Earnings per share:
Basic	$2.02	$1.65	$4.87	$4.06
Diluted	$2.01	$1.65	$4.85	$4.05
Shares used in computing earnings per share:
Basic	14,673,278	14,994,0…	14,710,718	15,037,9…
Diluted	14,725,873	15,056,1…	14,768,115	15,103,4…
(1)Net sales by reportable segment:
Americas	$45,093	$40,315	$103,622	$92,963
Europe	$28,055	$24,454	$66,201	$58,315
Greater China	$20,497	$16,002	$46,023	$34,515
Japan	$8,401	$7,298	$17,814	$16,285
Rest of Asia Pacific	$9,138	$7,290	$21,280	$17,581
Total net sales	$111,184	$95,359	$254,940	$219,659

	March 28, 2026	September 27, 2025
ASSETS:
Current assets:
Cash and cash equivalents	$45,572	$35,934
Marketable securities	$22,935	$18,763
Accounts receivable, net	$30,339	$39,777
Vendor non-trade receivables	$23,172	$33,180
Inventories	$6,747	$5,718
Other current assets	$15,349	$14,585
Total current assets	$144,114	$147,957
Non-current assets:
Marketable securities	$78,088	$77,723
Property, plant and equipment, net	$50,116	$49,834
Intangible assets, net	$21,334	$11,093