According to Zhitong Finance APP, at 12:00 AM Beijing time on November 3, Apple Inc. (AAPL.US) released its fourth fiscal quarter results for fiscal year 2026 (ended September 26, 2026) after the close of U.S. markets on Monday. The company recorded record revenues for total revenue, iPhone sales, and earnings per share in the September quarter, while service revenue also hit an all-time high, capping off Apple’s “best fiscal year ever.” However, revenue from Greater China fell short of market expectations, and iPad and wearable device revenues declined year-over-year, raising concerns in the earnings report.
Key Performance: Revenue and profit both exceed expectations
The financial report showed that Apple generated $114.48 billion in revenue for its fourth fiscal quarter, a 12% year-over-year increase, surpassing analysts’ expectations of $113.47 billion and exceeding the upper end of the company’s previously provided guidance range of 9% to 11%; however, the growth rate slowed compared to the 16% increase in the June quarter. Diluted earnings per share were $2.10, up 14% year-over-year and better than the market expectation of $2.00. The company’s gross margin was 47.9%, with approximately one percentage point attributable to a favorable impact from tariff refunds; earnings per share also included approximately $0.05 from tariff refund contributions.
By business segment:
iPhone revenue reached a record high for the September quarter, and Mac sales exceeded expectations by approximately 11%, continuing the momentum from last week’s launch of the touchscreen OLED MacBook.
The strong momentum of Mac products in the Pro lineup. Service revenue reached a record high for the quarter, but was broadly in line with expectations, with year-over-year growth slowing to under 10%.
Regionally, revenue in the Americas reached $48.68 billion (expected $48.51 billion), and revenue in Europe reached $32.01 billion (expected $30.21 billion), both exceeding expectations; however, revenue in Greater China amounted to $17.54 billion, a 21% year-over-year increase, falling short of the market expectation of $18.75 billion. Analysis points out that Apple’s failure to update the standard iPhone model in September, combined with supply shortages leading to inventory shortages, were key factors behind the weaker performance in Greater China amid competition from domestic brands such as Huawei.
Best fiscal year ever: Annual revenue of $479 billion
Apple CEO John Ternus
Ternus said: "Today, Apple is proud to announce record quarterly revenue of $114.5 billion, a 12% increase year-over-year, with iPhone reaching a new quarterly high and services setting an all-time record, capping off our best fiscal year ever."
He also teased the holiday season: "This year, the company will close with its most ambitious lineup to date, including the most transformative iPhone since the original."
Duo, and our most powerful iPhone 18 Pro and iPhone 18 Pro yet
Max. Apple has also just introduced a new generation of home hardware and brought Touch to the Mac platform for the first time. Combined with the new Siri AI, this makes for an excellent lineup as we enter the holiday season.
Chief Financial Officer Kevan Parekh
Parekh stated that the record fourth quarter capped off a perfect fiscal year 2026, with annual revenue reaching a historic high of $479 billion and double-digit earnings per share growth. The company generated $28 billion in operating cash flow this quarter and returned $28 billion to shareholders.
The Apple board of directors also declared a cash dividend of $0.27 per share of common stock, payable on November 16, 2026, to shareholders of record at the close of business on November 12.
Market reaction: Fell initially after hours, then stabilized
Before the earnings report, Apple's stock closed on Monday at $338.32, down 1.83%, with a total market capitalization of approximately $4.94 trillion. After the earnings announcement, the stock initially dropped about 1% in after-hours trading but later recovered to near its closing price.
Looking ahead to the next fiscal quarter, market focus will shift to the holiday-season sales performance of the iPhone 18 series and the iPhone Duo foldable device, as well as Siri
Advancements in AI and whether Greater China can return to an outperformance trajectory after new product supply resumes.