Apple reports record $114.5 billion September quarter

Apple on Monday reported fiscal fourth-quarter revenue of $114.48 billion, up 12% from $102.47 billion a year earlier, with net income of $30.71 billion and diluted earnings per share of $2.10. The results beat Wall Street expectations: analysts polled by Bloomberg had projected earnings per share of $2.00 on revenue of $113.46 billion, according to Yahoo Finance. This was Apple's first earnings report under new CEO John Ternus, who took over on Sept. 1.

iPhone revenue came in at $57.58 billion, above the $56.48 billion estimate. Services revenue was $31.57 billion, just below the $31.58 billion analysts had projected. Mac revenue was $10.79 billion, compared with an expected $9.69 billion. Wearables revenue fell to $8.3 billion from $9 billion a year earlier, and iPad revenue was $6.23 billion, down from $6.9 billion. Greater China revenue was $17.54 billion, missing the $18.75 billion estimate. Across Apple's segments, Mac sales beat expectations while Services narrowly missed.

Apple CEO John Ternus said in a statement that the company was "proud to report a September quarter revenue record of $114.5 billion, up 12 percent from a year ago," and that iPhone reached a September quarter record while Services reached an all-time high. He called the quarter "capping off our best fiscal year ever" and highlighted the new iPhone Duo, iPhone 18 Pro and iPhone 18 Pro Max, new home hardware, Touch to Mac, and all-new Siri AI. CFO Kevan Parekh said Apple delivered September quarter records for net income and EPS, with all-time record revenue of $479 billion for fiscal 2026 and double-digit EPS growth. He added that operating cash flow of $28 billion allowed Apple to return $28 billion to shareholders, and that the installed base of active devices reached a new all-time high.

Gross margin was 47.9%, including a one-percentage-point benefit from tariff refunds. Diluted EPS of $2.10 included a $0.05 benefit from those refunds. Operating income was $35.63 billion, up from $32.43 billion a year earlier. Apple's board declared a cash dividend of $0.27 per share, payable Nov. 16 to shareholders of record Nov. 12. Yahoo Finance reported that Apple's stock was flat in after-hours trading after it topped estimates on the top and bottom lines but fell short on Greater China sales.