Apple Inc. · Earnings release · 8-K Exhibit 99

EX-99.1 2 a8-kex991q2202603282026.htm EX-99.1 Document Exhibit 99.1 Apple reports second quarter results March quarter records for total company revenue, iPhone revenue, and EPS Services revenue reaches new all-time high CUPERTINO, CALIFORNIA — Apple ® today announced financial results for its fiscal 2026 second quarter ended March 28, 2026. The Company posted quarterly revenue of $111.2 billion, up 17 percent year over year. Diluted earnings per share was $2.01, up 22 percent year over year. "T1Today Apple is proud to report our best March quarter ever, with revenue of $111.2 billion and T2double-digit growth across every geographic segment," said Tim Cook, Apple's CEO. "T3iPhone achieved a March quarter revenue record, fueled by such extraordinary demand for the iPhone 17 lineup.

During the quarter, T4Services achieved yet another all-time record, and T5we were excited to introduce remarkable new products to our strongest lineup ever. That included the addition of the iPhone 17e and the M4-powered iPad Air, along with the launch of MacBook Neo, which is captivating customers all around the world." "T6Our strong business performance during the March quarter generated over $28 billion in operating cash flow and drove new March quarter records for both operating cash flow and EPS," said Kevan Parekh, Apple's CFO. "T7Continued strong customer demand for our products and services once again helped us achieve a new all-time high for our installed base of active devices across all major product categories and geographic segments."

Apple's board of directors has declared a cash dividend of $0.27 per share of the Company's common stock, an increase of 4 percent. The dividend is payable on May 14, 2026, to shareholders of record as of the close of business on May 11, 2026. T8The board of directors has also authorized an additional program to repurchase up to $100 billion of the Company's common stock. Apple will provide live streaming of its Q2 2026 financial results conference call beginning at 2:00 p.m. PT on April 30, 2026, at apple.com/investor/earnings-call. The webcast will be available for replay for approximately two weeks thereafter. Apple periodically provides information for investors on its corporate website, apple.com, and its investor relations website, investor.apple.com.

This includes press releases and other information about financial performance, reports filed or furnished with the SEC, information on corporate governance, and details related to its annual meeting of shareholders. This press release contains forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include without limitation those about the Company's plan for return of capital, payment of the Company's quarterly dividend and future business plans. These statements involve risks and uncertainties, and actual results may differ materially from any future results expressed or implied by the forward-looking statements. Risks and uncertainties include without limitation: effects of global and regional economic conditions, including as a result of government policies, trade and other international disputes, geopolitical tensions, conflict, terrorism, natural disasters, and public health issues; risks relating to the design, manufacture, introduction, and transition of products and services in highly competitive and rapidly changing markets, including from reliance on third parties for components, technology, manufacturing, applications, services, support, and content; risks relating to information technology system failures, network disruptions, and failure to protect, loss of, or unauthorized access to, or release of, data; and effects of unfavorable legal proceedings, government investigations, and complex and changing laws and regulations.

More information on these risks and other potential factors that could affect the Company's business, reputation, results of operations, financial condition, and stock price is included in the Company's filings with the SEC, including in the "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections of the Company's most recently filed periodic reports on Form 10-K and Form 10-Q and subsequent filings. The Company assumes no obligation to update any forward-looking statements, which speak only as of the date they are made. Apple revolutionized personal technology with the introduction of the Macintosh in 1984. Today, Apple leads the world in innovation with iPhone, iPad, Mac, AirPods, Apple Watch, and Apple Vision Pro.

Apple's six software platforms — iOS, iPadOS, macOS, watchOS, visionOS, and tvOS — provide seamless experiences across all Apple devices and empower people with breakthrough services including the App Store, Apple Music, Apple Pay, iCloud, and Apple TV. Apple's more than 150,000 employees are dedicated to making the best products on earth and to leaving the world better than we found it. Press Contact: Josh Rosenstock Apple jrosenstock@apple.com (408) 862-1142 Investor Relations Contact: Suhasini Chandramouli Apple suhasini@apple.com (408) 974-3123 NOTE TO EDITORS: For additional information visit Apple Newsroom (www.apple.com/newsroom), or email Apple's Media Helpline at media.help@apple.com. © 2026 Apple Inc. All rights reserved. Apple and the Apple logo are trademarks of Apple.

Other company and product names may be trademarks of their respective owners. Apple Inc. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) (In millions, except number of shares, which are reflected in thousands, and per-share amounts) Three Months Ended Six Months Ended March 28, 2026 March 29, 2025 March 28, 2026 March 29, 2025 Net sales:    Products $ 80,208  $ 68,714  $ 193,951  $ 166,674     Services 30,976  26,645  60,989  52,985  Total net sales (1) 111,184  95,359  254,940  219,659  Cost of sales:    Products 49,179  44,030  116,657  103,477     Services 7,224  6,462  14,271  13,040  Total cost of sales 56,403  50,492  130,928  116,517  Gross margin 54,781  44,867  124,012  103,142  Operating expenses: Research and development 11,419  8,550  22,306  16,818  Selling, general and administrative 7,477  6,728  14,969  13,903  Total operating expenses 18,896  15,278  37,275  30,721  Operating income 35,885  29,589  86,737  72,421  Other income/(expense), net (52) (279) 98  (527) Income before provision for income taxes 35,833  29,310  86,835  71,894  Provision for income taxes 6,255  4,530  15,160  10,784  Net income $ 29,578  $ 24,780  $ 71,675  $ 61,110  Earnings per share: Basic $ 2.02  $ 1.65  $ 4.87  $ 4.06  Diluted $ 2.01  $ 1.65  $ 4.85  $ 4.05  Shares used in computing earnings per share: Basic 14,673,278  14,994,082  14,710,718  15,037,903  Diluted 14,725,873  15,056,133  14,768,115  15,103,499  (1)  Net sales by reportable segment: Americas $ 45,093  $ 40,315  $ 103,622  $ 92,963  Europe 28,055  24,454  66,201  58,315  Greater China 20,497  16,002  46,023  34,515  Japan 8,401  7,298  17,814  16,285  Rest of Asia Pacific 9,138  7,290  21,280  17,581  Total net sales $ 111,184  $ 95,359  $ 254,940  $ 219,659  (1)  Net sales by category: iPhone $ 56,994  $ 46,841  $ 142,263  $ 115,979  Mac 8,399  7,949  16,785  16,936  iPad 6,914  6,402  15,509  14,490  Wearables, Home and Accessories 7,901  7,522  19,394  19,269  Services 30,976  26,645  60,989  52,985  Total net sales $ 111,184  $ 95,359  $ 254,940  $ 219,659  Apple Inc.

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (In millions, except number of shares, which are reflected in thousands, and par value) March 28, 2026 September 27, 2025 ASSETS: Current assets: Cash and cash equivalents $ 45,572  $ 35,934  Marketable securities 22,935  18,763  Accounts receivable, net 30,339  39,777  Vendor non-trade receivables 23,172  33,180  Inventories 6,747  5,718  Other current assets 15,349  14,585  Total current assets 144,114  147,957  Non-current assets: Marketable securities 78,088  77,723  Property, plant and equipment, net 50,116  49,834  Intangible assets, net 21,334  11,093  Other non-current assets 77,430  72,634  Total non-current assets 226,968  211,284  Total assets $ 371,082  $ 359,241  LIABILITIES AND SHAREHOLDERS' EQUITY: Current liabilities: Accounts payable $ 57,349  $ 69,860  Other current liabilities 57,654  66,387  Deferred revenue 9,331  9,055  Commercial paper 1,997  7,979  Term debt 8,310  12,350  Total current liabilities 134,641  165,631  Non-current liabilities: Term debt 74,404  78,328  Other non-current liabilities 55,546  41,549  Total non-current liabilities 129,950  119,877  Total liabilities 264,591  285,508  Commitments and contingencies Shareholders' equity: Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 14,667,688 and 14,773,260 shares issued and outstanding, respectively 99,507  93,568  Retained earnings/(Accumulated deficit) 12,359  (14,264) Accumulated other comprehensive loss (5,375) (5,571) Total shareholders' equity 106,491  73,733  Total liabilities and shareholders' equity $ 371,082  $ 359,241  Apple Inc.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (In millions) Six Months Ended March 28, 2026 March 29, 2025 Cash, cash equivalents, and restricted cash and cash equivalents, beginning balances $ 35,934  $ 29,943  Operating activities: Net income 71,675  61,110  Adjustments to reconcile net income to cash generated by operating activities: Depreciation and amortization 6,653  5,741  Share-based compensation expense 7,122  6,512  Other (1,717) (2,217) Changes in operating assets and liabilities: Accounts receivable, net 9,295  7,266  Vendor non-trade receivables 10,008  9,171  Inventories (1,084) 858  Other current and non-current assets (14,329) (4,371) Accounts payable (12,297) (14,604) Other current and non-current liabilities 7,301  (15,579) Cash generated by operating activities 82,627  53,887  Investing activities: Purchases of marketable securities (32,432) (12,442) Proceeds from maturities of marketable securities 18,691  26,587  Proceeds from sales of marketable securities 8,615  5,210  Payments for acquisition of property, plant and equipment (4,344) (6,011) Other (1,584) (635) Cash generated by/(used in) investing activities (11,054) 12,709  Financing activities: Payments for taxes related to net share settlement of equity awards (3,252) (3,205) Payments for dividends and dividend equivalents (7,743) (7,614) Repurchases of common stock (36,989) (49,504) Repayments of term debt (7,914) (4,009) Repayments of commercial paper, net (5,911) (3,968) Other (126) (77) Cash used in financing activities (61,935) (68,377) Increase/(Decrease) in cash, cash equivalents, and restricted cash and cash equivalents 9,638  (1,781) Cash, cash equivalents, and restricted cash and cash equivalents, ending balances $ 45,572  $ 28,162  Supplemental cash flow disclosure: Cash paid for income taxes, net $ 20,397  $ 31,683