Apple's quarterly results exceeded expectations, thanks in part to strong sales of its iPhone 17.
Apple (AAPL) earnings clocked in higher than 2Q estimates, with iPhone revenue of $56.99b just edging above the Street's forecast of $56.98b. George Tsilis joins the earnings coverage immediately following the print as Apple shares more insights into its CEO transition plan from Tim Cook to John Ternus.
Apple beat Wall Street forecasts on the top and bottom lines for the three months ended in March despite a slight miss on iPhone sales, which were still extremely robust. Services, where Apple TV lives, had its best quarter ever.
Apple Inc (NASDAQ:AAPL, XETRA:APC) reported fiscal second quarter 2026 results that topped Wall Street expectations for both revenue and earnings. The iPhone maker posted earnings per share of $2.01 on revenue of $111.2 billion for the quarter ended March 28, ahead of analyst estimates of $1.96 per share and $109.66 billion in revenue.
Shares of Apple Inc. edged lower in after-hours trading on Thursday, slipping 0.48% despite the company delivering better-than-expected fiscal second-quarter results, as investors weighed strong product demand against ongoing supply constraints. The company posted revenue of $111.18 billion and earnings of $2.01 per share for the quarter ended March 28, beating analyst expectations of $109.46 billion and $1.95 per share, respectively.
The Silicon Valley company, which is undergoing a chief executive transition, also reported a 19 percent increase in profit.
Implied volatility in the stock suggests a 3.5% swing after earnings tonight, compared to an average move of just 1.8% following the last four quarterly reports.
Apple reports fiscal second-quarter results after the bell, its first time facing Wall Street since the announcement that Tim Cook will be stepping down as CEO. Analysts expect to see year-over-year growth in iPhone sales of 20%.
Apple is slated to release its quarterly results after the closing bell today, wrapping up a busy week of Big Tech earnings.
The S&P 500 (^GSPC) is off to the races this morning, up 0.50% thanks to tailwinds from mega-cap earnings beats and a sharp pullback in oil prices, even as the Fed's preferred inflation gauge ran hotter than expected.
Another update may help iPhone users switch quickly between photo, video and portrait modes.
Apple is slated to release its quarterly results Thursday to wrap up a busy week of Big Tech earnings.