Apple Posts Best March Quarter Ever, Raises Dividend and Authorizes $100 Billion Buyback

Apple said Thursday that it posted its best March quarter ever, with revenue rising 17% from a year earlier to $111.2 billion and diluted earnings per share climbing 22% to $2.01, driven by record March-quarter iPhone sales and an all-time high in Services. The results, for Apple’s fiscal second quarter ended March 28, 2026, were released April 30 and underscore unusual strength in what is typically a smaller quarter than the company’s holiday-season first quarter.

According to Apple’s April 30 earnings release and attached consolidated financial statements, iPhone revenue reached $56.994 billion, a March-quarter record, while Services revenue rose to $30.976 billion, an all-time high. Total products revenue was $80.208 billion. Apple also said its installed base of active devices hit a new all-time high across all major product categories and geographic segments. CEO Tim Cook said in the release that the quarter reflected “extraordinary demand for the iPhone 17 lineup,” and he also pointed to recent launches including the iPhone 17e, M4-powered iPad Air and MacBook Neo.

Apple paired the strong quarter with new shareholder-return moves. The company said it generated more than $28 billion in operating cash flow, which Chief Financial Officer Kevan Parekh said set a March-quarter record. Apple’s board declared a quarterly cash dividend of 27 cents a share, up 4%, payable May 14, 2026, to shareholders of record as of May 11, 2026. The board also authorized an additional $100 billion share repurchase program. Parekh said continued customer demand for Apple’s products and services helped drive a new all-time high in the company’s active installed base.

Net income for the quarter was $29.578 billion, and operating income was $35.885 billion, according to the company’s financial statements. For comparison, Apple reported revenue of $95.359 billion in its fiscal second quarter of 2025, highlighting the scale of this year’s growth. Cook said Apple delivered “double-digit growth across every geographic segment,” though the company’s release emphasized product demand and Services momentum more than regional performance.

The report arrives 10 days after Apple announced a leadership transition. On April 20, the company said CEO Tim Cook is set to become executive chairman on Sept. 1, 2026, and John Ternus, currently a senior Apple executive, is set to become CEO the same day. Thursday’s earnings release did not center on that change, instead focusing on what Apple described as record March-quarter performance across its core hardware business and services segment.