Apple has reported record revenue for its September quarter, the first earnings report under CEO John Ternus. According to MacStories' summary of the company's results, total revenue for the fiscal fourth quarter of 2026 reached $114.5 billion, up 11.7 percent from $102.5 billion a year earlier.
Net income came to $30.7 billion, up 11.8 percent, while diluted earnings per share rose 13.5 percent to $2.10. MacStories notes that analyst consensus had called for roughly $113.46 billion in revenue and $2.00 per share, so Apple finished ahead of expectations on both measures. The result also landed above the 9 to 11 percent growth range Apple had guided to in July.
iPhone leads the gain
The iPhone was the biggest driver. Revenue from the product line totaled $57.6 billion, an increase of 17.5 percent, and accounted for about half of the company's quarterly sales. Forbes also reports that the figure topped Wall Street estimates. The quarter covers the launch period of the iPhone 18 Pro lineup, and the new iPhone Duo arrived in stores only after the period ended.
Services revenue reached $31.6 billion, up 9.8 percent, and made up roughly 28 percent of total sales. The segment carried a gross margin of 76 percent and contributed about 44 percent of Apple's total gross profit, according to MacStories.
Margins and cash flow
Apple's overall gross margin was $54.8 billion, or 47.9 percent of revenue. Products carried a 37.2 percent gross margin on $82.9 billion in sales. Operating cash flow was $28.1 billion, down 5.5 percent from the year-ago quarter.
MacStories reports that four of Apple's five geographic segments grew, with the Americas contributing about $4.5 billion of the roughly $12.0 billion in year-over-year growth. Other outlets covering the report have said China revenue fell short of expectations, though this article has not independently confirmed regional figures beyond those above.
What Ternus said
In the company's statement, Ternus described the result as "a September quarter revenue record of $114.5 billion," according to MacStories.
Details that were not available in the sources reviewed for this story include Mac, iPad and Wearables revenue, the dividend and buyback announcements, and Apple's guidance for the holiday quarter. Apple's earnings call and its filing with the Securities and Exchange Commission are expected to provide more detail, and this story may be followed up as those become available.
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