Apple Reports April 30 With a New CEO: What John Ternus Must Prove in His First Quarter as Tim Cook Steps Up

# Apple Reports April 30 With a New CEO: What John Ternus Must Prove in His First Quarter as Tim Cook Steps Up

> **Quick answer:** Apple reports Q2 FY2026 after market close on April 30. Wall Street expects $109.3 billion in revenue and EPS of $1.94 — both well above a year ago. But the headline number is almost secondary. With Tim Cook stepping down to executive chairman and John Ternus becoming CEO on September 1, investors are using this call to measure the incoming leader's command of the story. The five questions that matter: Can iPhone demand hold in a $104 oil/inflation environment? Is Services genuinely approaching $30 billion? Has Apple Intelligence finally moved the upgrade needle? How exposed is the supply chain to new China tariffs? And does Ternus sound like a CEO on this call?

Apple's earnings April 30 2026 will be the most watched in years — not because the numbers are in doubt, but because the context has changed entirely. On April 20, Apple announced that Tim Cook, who has led the company since 2011, will become executive chairman and hand the CEO role to hardware engineering chief John Ternus on September 1. This quarter's call is now both a financial report and an audition. The market will listen to every word Ternus speaks on that call with a different set of ears.

## The Numbers Wall Street Is Watching

Apple guided Q2 FY2026 revenue growth of 13 to 16 percent year over year, which translates to a range of $107.8 billion to $110.7 billion. The Street consensus has settled at $109.3 billion, according to S&P Global Market Intelligence. EPS consensus sits at $1.94 diluted, up roughly 17 percent from $1.65 a year ago.

For context, Q1 FY2026 was a record quarter: $143.8 billion in revenue, $2.84 adjusted EPS, and an installed base that crossed 2.5 billion active devices. Q2 is historically Apple's seasonally softer quarter — no fall iPhone launch, no holiday surge — so the bar is lower. But the direction of every segment line will matter enormously.