Apple's Q2 revenue hits $109.42 billion as ad-boosted services set $30.7 billion record
The fiscal third quarter, ended June 2026, brought Apple stronger-than-expected earnings, with total revenue of $109.42 billion against a $108.65 billion Wall Street forecast and adjusted earnings per share of $1.91 versus the $1.89 expected. iPhone revenue climbed to $54.25 billion on a 22% rise in unit sales, Mac revenue reached $10.35 billion against an $8.74 billion estimate, and iPad revenue landed at $6.19 billion, short of the $6.92 billion analysts had projected. Services revenue, which includes advertising, App Store and Apple Music, hit $30.7 billion, up 12% year over year and a June-quarter record, even though it missed the $31.2 billion estimate. Tim Cook, CEO for 15 years, steps down on September 1, 2026, to become executive chairman, with John Ternus, the current head of hardware engineering, taking over as CEO.
Apple's advertising business, folded into that $30.7 billion services line, now ranks alongside App Store, Apple Music and Apple TV+ among the company's fastest-growing segments, giving media buyers a larger and more measurable pool of Apple inventory to plan against. The leadership handoff from Cook to Ternus lands in the middle of that growth, and any change to ad policy or measurement access across Apple's 2.5 billion active devices would ripple through campaigns that already treat the platform as a distinct, hard-to-benchmark channel.