May 01, 2026
Apple on Thursday reported results that beat Wall Street estimates, with customers showing eagerness to buy a new MacBook model driven by incoming chief executive John Ternus, while supply constraints hindered iPhone sales.
Apple said sales and profits were $111.18 billion and $2.01 per share for the fiscal second quarter ending March 28, above analyst expectations of $109.66 billion and $1.95 per share, according to LSEG. Sales of the iPhone, still the company's best-selling product nearly 20 years after its introduction, were $56.99 billion, slightly less than estimates of $57.21 billion, according to LSEG data, after the biggest revamp of the line-up since the iPhone X in 2017.
Apple shares were down about 1 per cent in after-hours trading.
Outgoing Apple chief executive Tim Cook said iPhone sales were held back in the quarter by supply constraints for the advanced processor chips that form the brains of the device. The iPhone 17 family's chips are made on a variant of the same Taiwan Semiconductor Manufacturing Co chip manufacturing technology as many leading AI chips.
