Apple: The iPhone Is a Hit Without Native AI
Apple far exceeded expectations for the quarter ended in March, with revenue up 16.6% to $111.18 billion and a significant increase in profit, driven by strong iPhone sales, services, and a rebound in China. On April 30, Apple released its results for the second fiscal quarter of 2026 (ended in March), significantly exceeding Wall Street expectations. The company reported revenue of $111.18 billion, up 16.6% year-over-year, compared… to a consensus estimate of around $109–110 billion. Net income reached $29.6 billion, up 19%, and earnings per share came in at $2.01, above the anticipated $1.95. All major divisions posted growth, confirming a resilient overall momentum. The iPhone generated $56.99 billion (+21.7%), exceeding expectations (≈$56.5 billion), driven by the iPhone 17 lineup and sustained demand, particularly in the United States and China.…