iPhone Revenue Hits $57.58 Billion in September Quarter, Up 17.5%
Key Facts
iPhone revenue hit a September-quarter record, reaching $57.58 billion in the fiscal fourth quarter ended September 26, 2026, up 17.5% year over year, according to Apple results reported by Axios. The figure was part of quarterly company revenue of $114.5 billion, up 12% from the same period a year earlier, according to the company statement. CEO John Ternus said iPhone set a September-quarter record, capping a record fiscal year. Apple reported its results on November 2, while the quarter’s figures reflected strong revenue alongside a forecast for a lower gross margin in the December quarter. Gross margin in the reported quarter was 47.9%, making the outlook for future costs a prominent factor in tracking results.
Apple’s revenue exceeded analysts’ average forecast of $113.4 billion, while net income of $30.71 billion and earnings per share of $2.10 also topped the average forecast of $1.99 per share, according to the FactSet survey cited by the Associated Press. Revenue rose from $102.5 billion in the same period a year earlier to $114.5 billion in the fiscal fourth quarter, according to AP. Net income also increased from $27.47 billion, or $1.85 per share, in the same period last year; the news agency said net income and earnings per share rose 12%. Apple’s statement confirmed gross margin of 47.9% for the quarter. For the full fiscal year, the company said record revenue reached $479 billion and diluted earnings per share grew at a double-digit rate.
iPhone growth came amid strong performance from other products as well; Axios reported that the company sold 57.58 million iPhones and 10.79 million Mac devices during the period, up 17.5% and 23.7% year over year, respectively. The iPhone revenue growth rate reported in the quarterly results matched the increase in the number of phones sold cited by Axios, while the financial figure specifically represented revenue from the category. In Greater China, revenue rose more than 20% to $17.5 billion for the quarter, according to Axios. Apple said its active device base reached a new record across major product categories and geographic regions. Ternus described iPhone as having set a September-quarter record, said services reached an all-time high, and said the product lineup would carry the company into the holiday season.
Apple shares fell as the results were announced, closing down 1.8% at $338.32 in regular trading on November 2, then declining 2.6% to $329.60 during the earnings call, according to the Associated Press. The closing price recorded in EL7 data was $338.32 on the same day. The decline came despite revenue and earnings per share exceeding analysts’ average forecasts, as the company pointed to margin pressure in the following quarter. The company’s announcement went beyond operating results: its chief financial officer said operating cash flow was $28 billion during the quarter and Apple returned $28 billion to shareholders. Gross margin for the period was 47.9%, before the forecast decline in the December quarter.
Apple forecast gross margin of between 45% and 46% for the December 2026 quarter, compared with 47.9% in the fiscal fourth quarter, attributing the decline mainly to higher memory costs, according to AP. The agency added that costs related to the Siri AI release were among the factors weighing on margin. As part of its upcoming actions, Apple’s board declared a quarterly cash dividend of $0.27 per share, payable on November 16, 2026, to shareholders of record as of the close of business on November 12. Those dates place the dividend payment after the quarterly results announcement, while the December quarter is the subsequent period for which the company set a lower gross-margin range. The fiscal year ended with record revenue of $479 billion and double-digit growth in diluted earnings per share, according to Apple’s statement.