Apple Reports Q4 FY2026 Earnings: Revenue Up 12%, Services Hit Record High
Apple reported $114.5 billion in revenue for its fiscal fourth quarter, up 12% year-over-year, with services revenue reaching an all-time high. New CEO John Ternus guided for record quarterly revenue in the December quarter.
Apple Inc. released its financial results for the fiscal fourth quarter ended September 26, 2026, on November 2. The company reported total revenue of $114.477 billion, a 12% increase year-over-year. Net income stood at $30.711 billion, with diluted earnings per share (EPS) at $2.10, up 14%. Gross margin reached 47.9%, benefiting approximately one percentage point from tariff refunds.
Performance varied across segments. iPhone revenue hit a record for the period at $57.583 billion, while Mac revenue was $10.792 billion. Notably, Services revenue reached an all-time high of $31.573 billion. iPad revenue was $6.229 billion, and Wearables, Home and Accessories generated $8.3 billion. Greater China revenue rose to $17.539 billion from $14.493 billion in the same period last year.
This marks the first quarterly report under new CEO John Ternus. During the earnings call, Ternus stated that Mac sales hit an all-time high this year and highlighted efforts to commercialize AI capabilities. Some server-side AI features will have usage limits to encourage higher-demand users to subscribe to iCloud+. Ternus repeatedly referenced the new Siri, calling it "the Siri we've always wanted."
Management provided optimistic guidance for the next quarter, projecting total revenue to grow 7% to 10% year-over-year in the December 2026 quarter, setting a new record for quarterly revenue. Services revenue is expected to grow 8% to 9%.