Apple reported $111.2 billion in revenue for the March quarter, up 17% year-on-year, beating the top of its own guidance range. Net profit rose 19.4% to $29.6 billion. CEO Tim Cook said Apple grew double digits in every geographic segment, with India singled out as a standout market showing strong double-digit growth across nearly all product categories. The iPhone drove the quarter, generating $57 billion in revenue, up 21.7% year-on-year, powered by demand for the iPhone 17 family. Cook noted the lineup is the most popular in Apple's history through its launch period. Supply was tight, primarily on iPhone and Mac, due to limited availability of the advanced chips used in Apple's devices. Services hit an all-time record at $31 billion, up 16%, and now accounts for more than a quarter of total revenue. On India, Cook said Apple still holds a modest market share despite strong growth, pointing to significant room to expand. More than half of customers buying Apple products in India are new to those categories, which Cook said bodes well for building a larger installed base. Apple's global active device base has crossed 2.5 billion. For the June quarter, Apple guides 14% to 17% revenue growth. Tim Cook will transition to executive chairman later this year, with John Ternus taking over as CEO. Apple's Worldwide Developers Conference is set for June, where AI and software updates are expected.
HDFC Bank's board has approved Rajiv Kumar, former Chief Election Commissioner and financial services secretary, as its Part-time Non-Executive Chairman from June 30, 2026. His chairmanship still requires RBI approval, but the move ends the bank's prolonged search for a permanent board leader.
Indian startups raised $1.1 billion across 16 deals in the week of June 21-26, 2026, up 2.5 times from the prior week, with CRED's $900 million Series H led by Meta accounting for most of the total. Square Yards became India's 131st unicorn after closing a $95 million round.
Jet fuel costs dropped sharply after a US-Iran interim peace deal, but airlines are expected to use the savings to rebuild margins rather than cut fares. Tight capacity, aircraft delivery delays, and weak budget carriers give major carriers unusual pricing power heading into the second half of 2026.
Meta is investing $900 million in CRED at a $4.5 billion valuation, the largest Indian startup round of 2026, as founder Kunal Shah moves to a global leadership role at WhatsApp. Miten Sampat takes over as interim CEO, and a major employee stock buyback is expected within weeks.
