Apple’s $2.10 per-share earnings and record iPhone revenue support fourth-quarter results
Key Facts
Apple reported diluted earnings per share of $2.10 in fiscal fourth-quarter 2026, above the average analyst estimate of $1.99, with record iPhone revenue of $57.583 billion. The quarter ended on September 26, 2026, according to the company’s financial statements. Revenue also exceeded the average analyst estimate of $113.4 billion, according to Associated Press. The company said annual revenue for fiscal 2026 reached a record $479 billion. Chief Executive John Ternus said the company was wrapping up the year with "its most ambitious lineup yet."
Net income was $30.711 billion, compared with $27.466 billion in fiscal fourth-quarter 2025. Diluted earnings per share rose to $2.10 from $1.85 in the year-earlier period. In analyst estimates reported by Associated Press, the average earnings forecast was $1.99 per share. The average revenue estimate was $113.4 billion, which the company also exceeded. These comparisons put the quarter’s performance in the context of earnings growth and a beat on market expectations, alongside record iPhone revenue.
iPhone revenue reached $57.583 billion, versus $49.025 billion a year earlier, setting a quarterly record. Services revenue rose to $31.573 billion from $28.750 billion, and Apple said the segment had reached an all-time high. The figures highlight the contribution of both hardware and services to the period’s results, with services continuing to broaden revenue sources alongside phone sales. The company cited record September revenue, as well as record iPhone revenue and a new peak for Services. Ternus said the lineup with which the company was ending the year included iPhone Duo, iPhone 18 Pro and iPhone 18 Pro Max.
Apple’s Greater China sales rose to $17.539 billion in the quarter ended September 26, 2026, from $14.493 billion in the corresponding period ended September 27, 2025. The increase puts the market among the growth regions accompanying the record quarterly results. On profitability, gross margin was 47.9% in the fourth quarter. Apple said tariff reimbursements added a positive effect of about one percentage point. The reimbursements therefore supported the margin reported for the period, while the company’s outlook for the next quarter differs as costs rise.
Apple shares closed at $338.32 on November 2, 2026, down 1.8% in regular trading, according to Associated Press. The decline extended during the earnings call, with the stock falling 2.6% to $329.60. EL7 data show the close fell from $347.1 on October 27 to $338.32 on November 2. The results came after a recent selloff in technology stocks, as investors questioned the hefty cost of the artificial intelligence boom and the uncertain returns for Apple’s rivals. The stock’s move reflected a decline during the results session and call, despite the company beating earnings and revenue expectations.
Apple forecast gross margin of between 45% and 46% for the December 2026 quarter, compared with 47.9% in the fourth quarter. Associated Press attributed the outlook to higher memory costs and expenses for the launch of Siri AI. The news agency said both factors would weigh on margins in the coming period. On capital returns, the board declared a quarterly cash dividend of $0.27 per share. The dividend is payable on November 16, 2026, to shareholders of record at the close of November 12, 2026.