Revenue grew 17% in a year — fast, for a company this size.
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✦ The bottom line
Apple sold $111 billion of products and services in three months — its biggest March quarter on record, up 17% from a year earlier. Two engines did the work.
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✦ Teach me
Money coming in
Every dollar customers paid Apple for iPhones, Macs, and subscriptions in the quarter. The simplest measure of the company's size. Not profit — costs come out later.
Wall Street calls this
Revenue
When a company this enormous still grows 17% in a year, something specific got hot. Here, two things did.
The headline number · latest quarter
$111.2
B
Money in for the three months ending March 2026 — up 17% from a year earlier. A record for any January–March quarter.
$111 billion in a quarter is the size. But Apple is really one product wearing a trench coat — so the first question is how much of that money still leans on a single device. When one product carries the company, its fortunes are the company's. So: how much of Apple's revenue is still the iPhone?
Where the money comes from · iPhone
51
%
iPhone alone brought in $57.0B — more than half of all revenue, and a March-quarter record on iPhone 17 demand.
Source · 8-K · Item 2.02 — net sales by category · Q2 FY26 · Filed Apr 30, 2026
Half the company is one phone — that's a concentration risk we'll come back to. But underneath it runs a quieter engine, the one investors actually watch: the money Apple makes after you've bought the device. Apps, iCloud, Apple Music, the cut of every App Store sale. It grows whether or not you upgrade your phone. So: how big has that become?
The quiet engine · Services
$31.0
B
Services — subscriptions, the App Store, iCloud — hit an all-time high, up 16% from a year ago. Apple's fastest-growing, stickiest revenue.
Source · 8-K · Item 2.02 — net sales by category · Q2 FY26 · Filed Apr 30, 2026
✓
Strong
Record $111B quarter, +17%. iPhone and Services both at highs.