Apple Earnings: A Glance At Key Metrics

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The 2026 Q2 earnings season remains in high gear, with many notable companies reporting in the last several days. Of course, the headliners include members of the Magnificent 7 group, including Apple (AAPL - Free Report), which is the latest member of the beloved group to report.

Apple Reports Results

Apple’s results reflected its strongest June-quarter period ever, with quarterly revenue of $109.4 billion growing 16% year-over-year. Adjusted EPS came in at $2.02, growing an even stronger 29% from the year-ago period.

It also reported double-digit revenue growth across iPhone, Mac, and Services, with similar gains in every geographic segment. Its installed base of active devices reached an all-time high across its major product categories, with its overall gross margin seeing a benefit from tariff refunds.

As usual, the iPhone reflected the mega-cap tech giant’s biggest source of revenue, with sales coming in at $54.2 billion and growing by a strong 21.6% year-over-year. Below is a chart illustrating the iPhone’s revenue on a quarterly basis.

As we can see, the December period is always the outlier for Apple, capturing the bulk of new model sales.

Image Source: Zacks Investment Research

Though iPhone reflects the greatest portion of sales, the Services category has quickly grown to be another big top-line contributor over recent years, with quarterly sales of $30.7 billion reflecting a 12% YoY increase. While iPhone sales exceeded our consensus estimate, Services results fell a bit short, likely explaining a bit of the weak price action the stock is seeing following the results.

Apple’s cash-generating abilities have always been a critical part of investor sentiment surrounding the stock, with it also reporting record operating cash flow for its June-quarter period. The strong cash-generating abilities have allowed shares to trade at a premium, with its dividend payouts pleasing investors looking to obtain top-tier tech exposure paired with paydays.

Bottom Line

Apple is one of the latest members of the beloved Magnificent 7 group to report its earnings results, with the initial share reaction reflecting weakness despite overall solid results. That said, Services results came in a tad below expectations, with China results also not overly pleasing the market.