Apple Q2 — iPhone, services power 17% revenue surge

Apple reported a strong March 2026 quarter, with iPhone revenue rising 22 percent year-on-year and services revenue increasing 16 percent, helping lift total company revenue 17 percent to 111.2 billion dollars.

iPhone revenue came in at about 57 billion dollars, marking a March-quarter record for the product line and a second consecutive quarter of more than 20 percent growth, underlining the continued strength of Apple’s flagship business. Services revenue reached roughly 31 billion dollars, setting another all-time high for the segment as Apple continued to monetize its installed base through subscriptions, cloud, payments, and digital services. Overall diluted earnings per share rose 22 percent year-on-year to 2.01 dollars, suggesting that the company’s profitability remained strong even as the business scaled further.

The quarter also reflected broader momentum across Apple’s hardware portfolio, with Mac, iPad, and wearables posting growth alongside the iPhone. Analysts and market reports linked the performance to strong demand for the iPhone 17 lineup, including the lower-priced iPhone 17e, and to improving traction in Greater China. The steady expansion of services, coupled with solid hardware volumes, has also helped Apple preserve a healthy margin profile, reinforcing the company’s ability to grow earnings faster than revenue.

CT Bureau