Tim Cook says Apple Services revenue posted "a June quarter revenue record"

Apple reported $30.7 billion in Services revenue for the spring quarter, a figure CEO Tim Cook described as a record for that period, but it came in about $1 billion below Wall Street’s expectations, according to the Financial Times. Legal and regulatory pressure on App Store commissions, including challenges from Epic Games and the European Commission, appears to be weighing on that business. Research firm Appfigures found U.S. commission revenue fell 18% in 2026, while Sensor Tower data showed U.S. App Store consumer spending dropped 6% in the second quarter after rising 9% a year earlier; global growth slowed to 3% from 13%. Apple has acknowledged in filings that it may receive no commission when customers use outside payment systems. Shares slipped about 7% after earnings, and analysts say the durability of Apple’s services revenue is now being reassessed.