Apple Q2 Revenue Up 17% to $111.18B; China Surges 28%
Get the Tech newsletter
Daily tech — startups, AI labs, chips, the launches that shape the next decade. Free.
- Apple reported Q2 2026 revenue of $111.18B, up 17% YoY and ahead of the $109.66B consensus estimate, with net income rising 19% YoY to $29.58B.
- Apple's Greater China revenue jumped 28% YoY to $20.5B, well above the $18.9B estimate, while India posted double-digit growth that Tim Cook called a highlight of the quarter.
- Apple set March-quarter records for total revenue, iPhone revenue, and EPS, with Services revenue reaching an all-time high, per the BusinessWire release and coverage by 9to5Mac, Yahoo Finance, and Hindustan Times.
- Apple admitted it 'can't make Macs fast enough' to meet demand (Computerworld) and confirmed 'significantly higher memory costs' that Tom's Guide reports make iPhone and Mac price hikes 'almost certainly' imminent.
- Apple's incoming CEO John Ternus and CFO Kevan Parekh are now working together on the next phase, with The Information flagging a parallel shift in Apple's cash strategy.
- The Next Web's Cristian Dina argues Apple's record quarter came 'by not building an AI model,' framing the results as a counter-narrative to the AI-investment consensus driving Big Tech peers.
Why it matters: Apple beat top-line estimates by ~$1.5B and crushed the China number by $1.6B, which alone reframes the 'Apple in China is cooked' narrative investors have carried for two years. But the same call surfaced two margin headwinds — Mac supply constraints and 'significantly higher' memory costs — that landed directly on incoming CEO John Ternus's desk, meaning the record quarter coincides with the exact moment pricing power is about to be tested.
