Apple reported record revenue of $114.5 billion for its fiscal fourth quarter, which ended on September 26, 2026. Revenue increased 12% compared with the same period last year, driven by higher iPhone, Mac, and Services sales.
The company recorded a gross margin of 47.9%, while diluted earnings per share increased 14% to $2.10. Tariff refunds contributed $0.05 to earnings per share and one percentage point to the gross margin.
For the full fiscal year, Apple generated a record $478.8 billion in revenue, up from $416.2 billion in 2025. Annual earnings per share also recorded double-digit growth.
iPhone Remains Apple’s Biggest Business
Apple generated $57.6 billion from iPhone sales during the September quarter, compared with $49 billion during the same period last year.
For the full fiscal year, iPhone revenue reached $254.1 billion, up from $209.6 billion in 2025.
Services remained Apple’s second-largest revenue category, reaching a record $31.6 billion during the quarter, compared with $28.8 billion a year earlier. Annual Services revenue increased to $123.3 billion from $109.2 billion.
Mac revenue also increased from $8.7 billion to $10.8 billion, making it Apple’s third-largest category. Macs overtook Wearables, Home and Accessories, which declined from $9 billion to $8.3 billion.
Mac sales also exceeded Wearables, Home and Accessories for the full year.
Meanwhile, quarterly iPad revenue fell from $6.9 billion to $6.2 billion.
Apple Revenue by Product Category
Figures in millions of US dollars.
| Category | Q4 2026 | Q4 2025 | FY 2026 | FY 2025 |
|---|---|---|---|---|
| iPhone | $57,583 | $49,025 | $254,098 | $209,586 |
| Mac | $10,792 | $8,726 | $37,929 | $33,708 |
| iPad | $6,229 | $6,952 | $27,929 | $28,023 |
| Wearables, Home and Accessories | $8,300 | $9,013 | $35,577 | $35,686 |
| Services | $31,573 | $28,750 | $123,301 | $109,158 |
| Total net sales | $114,477 | $102,466 | $478,834 | $416,161 |
Apple Sales Across Different Regions
The Americas remained Apple’s largest market, generating $48.7 billion in revenue during the September quarter, compared with $44.2 billion a year earlier.
Europe followed with $32 billion, up from $28.7 billion in the previous year.
Greater China contributed $17.5 billion, compared with $14.5 billion during the same quarter last year.
Revenue from the rest of Asia Pacific increased from $8.4 billion to $9.7 billion, while Japan recorded a slight decline from $6.6 billion to $6.5 billion.
Apple Revenue by Region
Figures in millions of US dollars.
| Region | Q4 2026 | Q4 2025 | FY 2026 | FY 2025 |
|---|---|---|---|---|
| Americas | $48,680 | $44,192 | $198,083 | $178,353 |
| Europe | $32,008 | $28,703 | $127,604 | $111,032 |
| Greater China | $17,539 | $14,493 | $82,378 | $64,377 |
| Japan | $6,540 | $6,636 | $30,908 | $28,703 |
| Rest of Asia Pacific | $9,710 | $8,442 | $39,861 | $33,696 |
| Total net sales | $114,477 | $102,466 | $478,834 | $416,161 |
Apple’s Quarterly Profit and Financial Results
Apple reported net income of $30.7 billion for the September quarter, compared with $27.5 billion during the same period in 2025.
Operating income increased to $35.6 billion from $32.4 billion, while gross profit rose to $54.8 billion from $48.3 billion.
The company also increased spending on research and development, which reached $11.7 billion during the quarter, compared with $8.9 billion a year earlier.
For the full fiscal year, Apple recorded $132.2 billion in net income, compared with $112 billion in 2025.
Apple’s Detailed Financial Results
Figures in millions of US dollars, except earnings per share. Share counts are in thousands.
| Financial metric | Q4 2026 | Q4 2025 | FY 2026 | FY 2025 |
|---|---|---|---|---|
| Net sales | ||||
| Products | $82,904 | $73,716 | $355,533 | $307,003 |
| Services | $31,573 | $28,750 | $123,301 | $109,158 |
| Total net sales | $114,477 | $102,466 | $478,834 | $416,161 |
| Cost of sales | ||||
| Products | $52,064 | $47,019 | $215,874 | $194,116 |
| Services | $7,593 | $7,106 | $29,358 | $26,844 |
| Total cost of sales | $59,657 | $54,125 | $245,232 | $220,960 |
| Gross margin | $54,820 | $48,341 | $233,602 | $195,201 |
| Operating expenses | ||||
| Research and development | $11,730 | $8,866 | $45,765 | $34,550 |
| Selling, general and administrative | $7,459 | $7,048 | $29,774 | $27,601 |
| Total operating expenses | $19,189 | $15,914 | $75,539 | $62,151 |
| Operating income | $35,631 | $32,427 | $158,063 | $133,050 |
| Other income/(expense), net | $504 | $377 | $1,174 | ($321) |
| Income before income taxes | $36,135 | $32,804 | $159,237 | $132,729 |
| Provision for income taxes | $5,424 | $5,338 | $27,062 | $20,719 |
| Net income | $30,711 | $27,466 | $132,175 | $112,010 |
| Earnings per share | ||||
| Basic | $2.11 | $1.85 | $9.01 | $7.49 |
| Diluted | $2.10 | $1.85 | $8.98 | $7.46 |
| Shares used in computing EPS (thousands) | ||||
| Basic | 14,570,195 | 14,815,307 | 14,661,935 | 14,948,500 |
| Diluted | 14,630,318 | 14,863,609 | 14,720,306 | 15,004,697 |
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Apple Launches New Products Ahead of the Holiday Season
Apple introduced several new devices in October, following the end of its fiscal fourth quarter.
These included updated MacBooks, its first touchscreen MacBook Pro, and an iPad mini with an OLED display.
The company also expanded its smart home lineup with a new smart display, cameras, thermostats, locks, smart speakers, and an updated Apple TV streaming device.
Another major release was the iPhone Duo, which started shipping in late October.
Because these products launched after the September quarter ended, their sales will be reflected in Apple’s upcoming financial results.
Apple CEO Comments on Record Revenue
Apple CEO John Ternus described the September quarter as a record period for the company, highlighting strong iPhone revenue and the all-time high achieved by Services.
He also said the results marked the end of Apple’s strongest fiscal year to date.
Ternus highlighted the company’s latest product lineup, including the iPhone Duo, iPhone 18 Pro, and iPhone 18 Pro Max.
He also pointed to Apple’s expansion into smart home hardware, the introduction of touchscreen MacBooks, and the new Siri AI features.
According to Ternus, these products will be important to Apple’s performance during the upcoming holiday season.
Apple’s next earnings report will provide a clearer picture of how the newly launched devices contribute to the company’s sales.
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