Apple Reports Record Q2 2026 Revenue of $111.2B and Announces Tim Cook Will Step Down as CEO in September

Apple announced fiscal Q2 2026 revenue of $111.2 billion, up 17% year-over-year, with EPS of $2.01 (up 22%) — both beating analyst estimates. iPhone revenue hit a March-quarter record of $56.99B (+22% YoY), Services reached an all-time high of $30.98B, and Mac revenue surprised at $8.4B against $8.02B expected. The board authorized an additional $100 billion stock buyback and raised the dividend 4% to $0.27 per share. June-quarter guidance projects 14-17% growth versus 9.5% analyst expectation. The earnings call was Apple's first since announcing on April 20 that Tim Cook will step down as CEO on September 1, 2026 after 15 years, transitioning to Executive Chairman. John Ternus — SVP of Hardware Engineering and a 25-year Apple veteran — will succeed him. Cook's tenure saw Apple's annual profit quadruple to over $110B and its market value grow more than tenfold to approximately $4 trillion.