Key Points
- Apple posts $111.2 billion revenue in March quarter, up 17 per cent year on year
- iPhone 17 lineup drives record quarterly smartphone revenue for the company
- Board approves $100 billion share buyback and raises dividend by 4 per cent
Apple reported its highest-ever March quarter revenue of $111.2 billion on Friday, a 17 per cent increase from the same period last year, driven by record iPhone sales and continued growth in its services business.
The Cupertino-headquartered company said diluted earnings per share rose 22 per cent year on year to $2.01 for the fiscal second quarter ended 28 March 2026. The results exceeded Wall Street expectations and sent shares higher in after-hours trading.
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Apple’s CEO Tim Cook, attributed the performance to strong demand for the iPhone 17 lineup, which launched late last year. The smartphone division generated $56.99 billion in revenue during the quarter, up from $46.84 billion in the year-ago period.
“iPhone achieved a March quarter revenue record, fuelled by such extraordinary demand for the iPhone 17 lineup,” Cook said in a statement. “During the quarter, Services achieved yet another all-time record, and we were excited to introduce remarkable new products to our strongest lineup ever.”
Services and New Product Launches Drive Growth
Apple’s services segment, which includes the App Store, Apple Music, iCloud and Apple TV+, posted $30.97 billion in revenue. This represents a 16 per cent increase from $26.64 billion in the same quarter last year, marking a new all-time record for the division.
The company launched several products during the quarter, including the iPhone 17e, an M4-powered iPad Air and the MacBook Neo. Cook described the MacBook Neo as “captivating customers all around the world” without disclosing specific sales figures for the new laptop.
Kevan Parekh, Apple’s chief financial officer, said the company generated over $28 billion in operating cash flow during the quarter. “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,” he said.
Regional Performance Shows Double-Digit Growth
Apple reported growth across all geographic segments. The Americas region led with $45.09 billion in sales, up from $40.31 billion. Europe contributed $28.05 billion, a 15 per cent increase from $24.45 billion in the year-ago quarter.
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Greater China, a closely watched market for Apple, posted $20.49 billion in revenue, up 28 per cent from $16 billion. This growth comes after several quarters of declining sales in the region, where Apple faces stiff competition from domestic smartphone makers including Huawei and Xiaomi.
Japan generated $8.4 billion in sales, while the Rest of Asia Pacific region contributed $9.13 billion.
Dividend Increase and $100 Billion Buyback
Apple’s board declared a quarterly cash dividend of $0.27 per share, a 4 per cent increase from the previous payout. The dividend is payable on 14 May 2026 to shareholders of record as of 11 May 2026.
The board also authorised an additional share repurchase programme worth up to $100 billion. Apple has returned hundreds of billions of dollars to shareholders through dividends and buybacks over the past decade, making it one of the largest capital return programmes in corporate history.
For the six months ended 28 March 2026, Apple reported total revenue of $254.94 billion, up 16 per cent from $219.65 billion in the same period of the previous fiscal year. Net income for the six-month period rose to $71.67 billion from $61.11 billion.
The Mac division generated $8.39 billion in quarterly revenue, while iPad sales totalled $6.91 billion. The Wearables, Home and Accessories category, which includes the Apple Watch and AirPods, contributed $7.9 billion.
Your Questions, Answered
How much revenue did Apple report for March quarter 2026?
Apple reported quarterly revenue of $111.2 billion for the fiscal second quarter ended 28 March 2026, representing a 17 per cent increase from the same period last year.
What drove Apple’s record March quarter performance?
Apple attributed the results to strong demand for the iPhone 17 lineup and record services revenue. iPhone generated $56.99 billion in sales, while services contributed $30.97 billion.
How much is Apple’s new share buyback programme worth?
Apple’s board authorised an additional share repurchase programme of up to $100 billion. The company also increased its quarterly dividend by 4 per cent to $0.27 per share.
How did Apple perform in China during March quarter 2026?
Apple’s Greater China segment generated $20.49 billion in revenue, up 28 per cent from $16 billion in the year-ago quarter, marking a significant recovery in the region.