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Apple Reports Q2 Revenue $111.18B, Net Income $29.578B; Cook to Step Down as CEO in September

GateNews
Stocks

According to BlockBeats, on May 1, Apple reported better-than-expected Q2 2026 results, with revenue of $111.18 billion versus expected $109.66 billion, net income of $29.578 billion, and EPS of $2.01, all hitting record highs. Stock rose over 3% after hours.

CEO Tim Cook announced he will step down in September, with John Ternus taking over. iPhone sales reached $56.99 billion, slightly below expectations of $57.21 billion, attributed to high-end chip supply constraints. Apple also announced a new $100 billion share buyback program and increased dividend to $0.27 per share.

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