Apple Q4 2026 Earnings: $114.5B Revenue, iPhone Up 17% in Ternus’ First Call
Updated 7:00 AM ET, Nov. 3, 2026: Figures from Apple’s Nov. 2 earnings release and call.
Quick answer: Apple reported $114.5 billion in revenue for its fiscal fourth quarter of 2026 (July to September), up 12% from a year earlier and a record for a September quarter. iPhone revenue was $57.6 billion, up 17%, even with supply limits. It was John Ternus’ first earnings call as CEO, and Apple expects the December quarter to be its biggest ever.
Apple Q4 2026 at a glance
| Metric | Q4 FY2026 | Change vs. year ago |
|---|---|---|
| Revenue | $114.5B | +12% |
| Diluted EPS | $2.10 | +14% |
| Gross margin | 47.9% | vs. 47.2% |
| Operating cash flow | $28B | n/a |
| Returned to shareholders | $28B | dividends + buybacks |
| Dividend | $0.27/share | payable Nov. 16 |
Apple says about 1 point of gross margin and $0.05 of EPS came from tariff refunds. Source: Apple Newsroom
Revenue by product
| Category | Revenue | Change |
|---|---|---|
| iPhone | $57.6B | +17% |
| Services | $31.6B | +10% (all-time record) |
| Mac | $10.8B | +24% |
| Wearables, Home and Accessories | $8.3B | -8% |
| iPad | $6.2B | -10% |
What it means for iPhone buyers
- Supply is still tight. Apple said the foldable iPhone Duo is supply constrained and it can’t predict when supply will meet demand.
- Mac and iPad may be harder to find this holiday. Apple expects December-quarter constraints mainly on Mac and iPad because of memory supply.
- Prices weren’t discussed as changing, but Apple guided gross margin lower to 45–46%, citing higher memory costs and Siri AI costs.
December quarter outlook
Apple expects total revenue to grow 7% to 10% year over year, which would make it the best revenue quarter in the company’s history. Services are expected to grow 8% to 9%.
Full fiscal 2026
For the full fiscal year, Apple reported a record $479 billion in revenue, up 15%, and EPS of $8.98, up 20%.
How did Apple stock react?
Shares were down about 1.8% in regular trading on Nov. 2 and slipped slightly more after hours, according to MacRumors.
FAQ
Why is it called the fourth quarter if it ended in September?
Apple’s fiscal year ends in late September. Fiscal Q4 2026 covers roughly July to September 2026.
When is Apple’s next earnings report?
Apple usually reports December-quarter results in late January. It hasn’t announced the date yet.
Sources: Apple Newsroom, MacRumors.