Company notebook · AAPL · Checked 2026-09-18
What changed between Apple’s March and June quarters? A source-linked snapshot with calculated comparisons and a clear distinction between sequential change and annual growth.
Historical results: FY2026 Q2 ended 2026-03-28; FY2026 Q3 ended 2026-06-27. This page is a dated research snapshot, not a live feed.
| Measure | FY2026 Q2 | FY2026 Q3 | Change |
|---|---|---|---|
| Revenue | $111.2B | $109.4B | -1.62% |
| Diluted EPS | $2.01 | $2.02 | +0.50% |
| Revenue growth, year over year | 17% | 16% | -1 percentage point |
| EPS growth, year over year | 22% | 29% | +7 percentage points |
Revenue, same scale
FY2026 Q2: $111.2 billion
FY2026 Q3: $109.4 billion
Bars start at zero. Values are rounded as in the releases.
What changed?
Revenue fell approximately 1.62% sequentially while diluted EPS increased about 0.50%. Both quarters reported double-digit year-over-year revenue growth.
Sequential comparisons involve different selling seasons. A quarter-to-quarter decline alone does not establish deterioration in the business.
A detail behind the headline
Apple said tariff refunds added approximately 2 percentage points to Q3 gross margin and $0.11 to diluted EPS. Reported EPS growth therefore includes that benefit; it should not all be assumed recurring.
What this comparison cannot tell you
These figures do not establish whether the shares are attractively valued. The table excludes market prices, analyst estimates, debt, and forward guidance. A more complete assessment also needs cash flow, the balance sheet, valuation assumptions, and the underlying filings.
Evidence and method
Sequential change = (current / previous − 1) × 100. Growth-rate changes use percentage points. Changes calculated from rounded release values may differ from calculations using unrounded financial statements. Percentage changes from zero or negative EPS are not shown. No consensus estimate or price-return claim is made.
What to check next
At the next results release, compare the same quarter a year earlier, examine whether margin benefits recur, and reconcile earnings with operating cash flow. This is a research checklist, not a forecast.