Apple reports record quarter - iPhone and Mac sales are up, Services reach an all-time high

Apple announced a record $114.5 billion in revenue for the three months ending in September (which is Apple’s fiscal Q4) with a gross margin of 47.9%. Revenue is up 12% year-over-year and earnings per share are up 14% to $2.10. Tariff refunds helped boost Apple’s numbers by $0.05 per share and 1 percentage point for the gross margin.

For fiscal 2026 (the twelve months ending in September), Apple posted a record-breaking revenue of $479 billion with a double-digit growth in earnings per share.

The iPhone remains Apple’s bread and butter – for the September quarter, smartphone sales brought in $57.6 billion in revenue, up from $49.0 billion for the same period last year. iPhone sales for the full year amounted to $254.1 billion, up from $209.6 billion the year before.

According to CEO John Ternus, Services have reached an all-time high revenue of $31.6 billion, up from $28.8 billion for the year-ago quarter. The full-year revenue is $123.3 billion, up from $109.2 billion.

Meanwhile, Macs have risen to be Apple’s third biggest category with sales of $10.8 billion for the September quarter, up from $8.7 billion a year ago. This means they swapped places with Wearables, Home and Accessories, which fell from $9.0 billion to $8.3 billion for the September quarter. Macs even pulled ahead in terms of full-year sales. This leaves the iPads, which declined from $6.9 billion to $6.2 billion.

Last month, Apple launched a bevy of new products – new MacBooks, including its first touch-enabled MacBook, an OLED-packing iPad mini and expanded its smart home offerings with a smart display, cameras, thermostats and locks, smart speakers and a pricey new Apple TV streamer. The most important launch, naturally, was the iPhone Duo, which started shipping in late October. We’ll see how these launches will be reflected in the next financial report.

The Americas remain Apple’s top market with $48.7 billion in net sales for the quarter, followed by Europe with $32 billion and $17.5 billion for Greater China.

“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,” said John Ternus, Apple’s CEO. “We’re closing the year with our most ambitious lineup yet. That includes the iPhone Duo, the most transformational iPhone since the original, alongside iPhone 18 Pro and iPhone 18 Pro Max, our most powerful iPhones yet. We also just introduced a whole new generation of hardware for the home and brought Touch to Mac for the first time. Together with the all-new Siri AI, it’s an incredible lineup to carry us into the holiday season.”

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