Apple Posts Record $114.5 Billion Quarter as iPhone and Services Hit Highs

Apple reported fiscal fourth quarter revenue of $114.48 billion on Monday, November 2, 2026, up 12 percent from a year earlier and a record for a September quarter. Net profit was $30.71 billion, and earnings per share were $2.10, up 14 percent from a year earlier. The headline figures beat what analysts had expected for the quarter.

Chief executive John Ternus pointed to the two biggest product lines in his statement on the results. "Today, Apple is proud to report a September quarter revenue record of $114.5 billion, up 12 percent from a year ago, with iPhone reaching a September quarter record and Services reaching an all-time high, capping off our best fiscal year ever," Ternus said.

iPhone and Services lead the quarter

iPhone revenue was $57.58 billion, a record for a September quarter. Services revenue was $31.57 billion, an all time high for that business. Those two lines brought in most of the money in the quarter, and both set records at the same time.

The rest of the hardware business was smaller. Mac revenue was $10.79 billion. iPad revenue was $6.23 billion. Wearables, Home and Accessories revenue was $8.30 billion. Added to iPhone and Services, those figures make up the $114.48 billion total Apple reported for the quarter.

Margins, cash and the dividend

Gross margin was 47.9 percent. That figure included about a 1 percentage point favorable impact from tariff refunds. Diluted earnings per share of $2.10 also included a $0.05 favorable impact from tariff refunds, Apple said.

The quarter closed a record year. Full fiscal 2026 revenue was $479 billion, an all time record. Apple generated $28 billion in operating cash flow in the quarter and returned $28 billion to shareholders in the same period.

Chief financial officer Kevan Parekh summed up the year in his statement. "Apple delivered September quarter records for net income and EPS. Our record September quarter capped off a strong fiscal 2026, with all-time record revenue of $479 billion and double-digit EPS growth," Parekh said.

Apple declared a cash dividend of $0.27 per share. The dividend is payable on November 16, 2026, to shareholders of record at the close of business on November 12, 2026.

Beating expectations

Analysts surveyed by LSEG and reported by Reuters had expected revenue of about $113.39 billion and net profit of about $29.04 billion. Apple reported $114.48 billion in revenue and $30.71 billion in net profit, so both figures came in above consensus.

The report gives investors a clean read on demand heading into the holiday quarter. iPhone set a September quarter record, Services set an all time high, margins held at 47.9 percent with help from tariff refunds, and the company closed its best fiscal year on record with $479 billion in revenue.