Image Source: TradingView
By Brian Nelson, CFA
Apple (AAPL) recently announced second-quarter fiscal 2026 results, with the company beating the consensus estimate on both the top and bottom lines. Apple posted March quarter records for total company revenue, iPhone revenue, and earnings per share. Its Services revenue also notched a new record high in the quarter. Quarterly revenue of $111.2 billion was up 17%, while diluted earnings per share of $2.01 was up 22% year over year.
Management had the following to say about the results:
Today Apple is proud to report our best March quarter ever, with revenue of $111.2 billion and double-digit growth across every geographic segment. iPhone achieved a March quarter revenue record, fueled by such extraordinary demand for the iPhone 17 lineup. During the quarter, Services achieved yet another all-time record, and we were excited to introduce remarkable new products to our strongest lineup ever. That included the addition of the iPhone 17e and the M4-powered iPad Air, along with the launch of MacBook Neo, which is captivating customers all around the world.
Our strong business performance during the March quarter generated over $28 billion in operating cash flow and drove new March quarter records for both operating cash flow and EPS. Continued strong customer demand for our products and services once again helped us achieve a new all-time high for our installed base of active devices across all major product categories and geographic segments.
Apple’s iPhone revenue came in a $57 billion, up from $46.8 billion in the year-ago period. Mac, iPad, and ‘Wearable, Home and Accessories’ revenue all advanced from last year’s quarter. Greater China revenue increased to $20.5 billion, up from $16 billion in the March quarter of last year. Revenue also advanced across all major geographies, while Services revenue increased 16.3%. Apple ended the quarter with $146.6 billion in cash and marketable securities and $82.7 billion in term debt. We continue to like Apple in the newsletter portfolios.
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Brian Nelson owns shares in SPY, SCHG, QQQ, QQQM, DIA, VOT, RSP, and IWM. Valuentum owns SPY, SCHG, QQQ, QQQM, VOO, and DIA. Brian Nelson’s household owns shares in HON, DIS, HAS, NKE, DIA, RSP, SCHG, QQQ, QQQM, and VOO. Some of the other securities written about in this article may be included in Valuentum’s simulated newsletter portfolios. Contact Valuentum for more information about its editorial policies.
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