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Apple Earnings Soar on iPhone 17 Demand

technologyMay 3, 2026·333 words·3 min read

Apple has announced sharply better-than-expected results for the second quarter of 2026, with revenue of $111.18 billion — up about 17 percent year on year — and earnings of $2.01 per share, comfortably ahead of analyst forecasts of around $109 billion in revenue and $1.95 per share. Net income rose roughly 22 percent to $29.58 billion. Chief executive Tim Cook called the period Apple's "best March quarter ever," citing "double-digit growth across every geographic segment" and "extraordinary demand for the iPhone 17 lineup.

Many people wanted to buy the new iPhone 17. Apple also sold the cheaper iPhone 17e and a basic new MacBook Neo. Cook said Apple is growing in India, where its market share — the part of the market it controls — is still small. Days before the report, Apple announced that Cook will leave his job on 1 September. He has led Apple for fifteen years. He will stay as chairman.

John Ternus, who leads Apple's hardware team, will be the next CEO. Cook said memory chip costs — chips that store data — will be much higher next quarter. This is because rival companies need more chips for artificial intelligence (AI). Apple has spent less on AI than Google and Microsoft. Cook promised Apple will make AI feel natural and easy to use. A new Siri will arrive later this year.

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