Apple posts strongest June quarter ever in Tim Cook's final earnings call as CEO

Apple reported fiscal third-quarter 2026 results on July 30 that beat Wall Street estimates on every major line, posting $109.4 billion in revenue and $29.8 billion in net profit — both June-quarter records — in what marked Tim Cook's final earnings call as chief executive before he steps down on September 1.

Records across every product line

Revenue of $109.4 billion topped analyst estimates of $108.65 billion, while earnings per share of $2.02 beat the $1.89 consensus. iPhone revenue reached $54.25 billion, up 22% from $44.58 billion a year earlier — a sharper acceleration than most analysts had modeled heading into the print. Mac revenue came in at $10.35 billion against a $8.74 billion estimate, while iPad revenue landed at $6.19 billion, slightly below the $6.92 billion analysts expected. Gross margin expanded to 50.1%, up from 46.5% in the year-ago quarter, and Apple declared a $0.27-per-share dividend payable August 13.

"Today, Apple is proud to report our strongest June quarter ever, with double-digit revenue growth across iPhone, Mac and Services, and in every geographic segment," Cook said in the earnings statement, also pointing to the all-new Siri AI and child-safety features introduced at WWDC26 as highlights of the quarter's product work.

A record quarter as a farewell

What made Thursday's call different from Apple's typical earnings ritual was the subtext: this was Cook's last time presenting quarterly results as CEO. Cook has led Apple since 2011, following Steve Jobs, and is set to hand the role to a successor on September 1. Rather than closing out his tenure with a defensive or middling quarter, Apple delivered double-digit growth across every major product category and every geographic region — a genuinely strong note to end on, not just a symbolic one.

The timing means the incoming CEO inherits a company reporting record iPhone momentum, expanding margins, and an AI push (the newly overhauled Siri) that's only just reaching consumers. Whether that momentum holds through the transition is now the next quarter's story, but Cook's final numbers gave his successor about as strong a starting position as a departing CEO can leave behind.

The context nobody mentioned on the call

The results also land amid a broader industry debate about whether AI infrastructure spending across the sector is sustainable — memory prices have roughly doubled this year, pushing up component costs for Macs and iPads, with iPhones expected to follow. Apple's ability to post expanding margins even as component costs rise suggests pricing power and mix shift (more Pro-tier iPhone sales) are currently outrunning that cost pressure, though whether that holds if memory prices keep climbing is an open question for whoever takes over from Cook. Full results were reported via Apple's official newsroom.