Apple reports fourth quarter results
CUPERTINO, CALIFORNIA — Apple ® today announced financial results for its fiscal 2026 fourth quarter ended September 26, 2026. The Company posted quarterly revenue of $114.5 billion, up 12 percent year over year. Company gross margin was 47.9 percent, including a favorable impact of approximately 1 percentage point from tariff refunds. Diluted earnings per share was $2.10, up 14 percent year over year, and included a favorable impact of $0.05 from tariff refunds.
“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.”
“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,” said Kevan Parekh, Apple’s CFO. “We generated $28 billion in operating cash flow during the quarter, allowing us to return $28 billion to shareholders. Thanks to our very high levels of customer satisfaction and loyalty, our installed base of active devices reached a new all-time high across all major product categories and geographic segments.”
Apple’s board of directors has declared a cash dividend of $0.27 per share of the Company’s common stock. The dividend is payable on November 16, 2026, to shareholders of record as of the close of business on November 12, 2026.
Apple will provide live streaming of its Q4 2026 financial results conference call beginning at 2:00 p.m. PT on November 2, 2026, at apple.com/investor/earnings-call. The webcast will be available for replay for approximately two weeks thereafter.
Apple periodically provides information for investors on its corporate website, apple.com, and its investor relations website, investor.apple.com. This includes press releases and other information about financial performance, reports filed or furnished with the SEC, information on corporate governance, and details related to its annual meeting of shareholders.
This press release contains forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include without limitation those about payment of the Company’s quarterly dividend and future business plans. These statements involve risks and uncertainties, and actual results may differ materially from any future results expressed or implied by the forward-looking statements. Risks and uncertainties include without limitation: effects of global and regional economic conditions, including as a result of government policies, trade and other international disputes, geopolitical tensions, conflict, terrorism, natural disasters, and public health issues; risks relating to the design, manufacture, introduction, and transition of products, services and technologies in highly competitive and rapidly changing markets, including from reliance on third parties for components, technology, manufacturing, applications, services, support, compute, storage, and content; risks relating to information technology system failures, network disruptions, and failure to protect, loss of, or unauthorized access to, or release of, data; and effects of unfavorable legal proceedings, government investigations, and complex and changing laws and regulations. More information on these risks and other potential factors that could affect the Company’s business, reputation, results of operations, financial condition, and stock price is included in the Company’s filings with the SEC, including in the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of the Company’s most recently filed periodic reports on Form 10-K and Form 10-Q and subsequent filings. The Company assumes no obligation to update any forward-looking statements, which speak only as of the date they are made.
Apple revolutionized personal technology with the introduction of the Macintosh in 1984. Today, Apple leads the world in innovation with iPhone, iPad, Mac, AirPods, Apple Watch, and Apple Vision Pro. Apple’s six software platforms — iOS, iPadOS, macOS, watchOS, visionOS, and tvOS — provide seamless experiences across all Apple devices and empower people with breakthrough services including the App Store, Apple Music, Apple Pay, iCloud, and Apple TV. Apple’s more than 150,000 employees are dedicated to making the best products on earth and to leaving the world better than we found it.
NOTE TO EDITORS: For additional information visit Apple Newsroom (www.apple.com/newsroom), or email Apple’s Media Helpline at media.help@apple.com.
© 2026 Apple Inc. All rights reserved. Apple and the Apple logo are trademarks of Apple. Other company and product names may be trademarks of their respective owners.
(In millions, except number of shares, which are reflected in thousands, and per-share amounts)
(In millions, except number of shares, which are reflected in thousands, and par value)
September 26, September 27, 2026 2025 ────────────────────────────────────────────────────────────────────────────── ASSETS: Current assets: Cash and cash equivalents $ 36,305 $ 35,934 Marketable securities 20,417 18,763 Accounts receivable, net 43,817 39,777 Vendor non-trade receivables 39,896 33,180 Inventories 14,541 5,718 Other current assets 18,881 14,585 Total current assets 173,857 147,957 Non-current assets: Marketable securities 80,213 77,723 Property, plant and equipment, net 52,084 49,834 Intangible assets, net 20,278 11,093 Other non-current assets 78,116 72,634 Total non-current assets 230,691 211,284 Total assets $ 404,548 $ 359,241 LIABILITIES AND SHAREHOLDERS’ EQUITY: Current liabilities: Accounts payable $ 82,252 $ 69,860 Other current liabilities 66,124 66,387 Deferred revenue 9,636 9,055 Commercial paper 1,997 7,979 Term debt 9,906 12,350 Total current liabilities 169,915 165,631 Non-current liabilities: Term debt 68,208 78,328 Other non-current liabilities 54,332 41,549 Total non-current liabilities 122,540 119,877 Total liabilities 292,455 285,508 Commitments and contingencies Shareholders’ equity: Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 104,815 93,568 14,532,259 and 14,773,260 shares issued and outstanding, respectively Retained earnings/(Accumulated 13,700 -14,264 deficit) Accumulated other comprehensive loss -6,422 -5,571 Total shareholders’ equity 112,093 73,733 Total liabilities and shareholders’ $ 404,548 $ 359,241 equity
September 26, September 27, Twelve Months Ended 2026 2025 ────────────────────────────────────────────────────────────────────────────── Cash, cash equivalents, and restricted cash and cash $ 35,934 $ 29,943 equivalents, beginning balances Operating activities: Net income 132,175 112,010 Adjustments to reconcile net income to cash generated by operating activities: Depreciation and 13,423 11,698 amortization Share-based compensation 13,789 12,863 expense Other 568 -89 Changes in operating assets and liabilities: Accounts -3,994 -6,682 receivable, net Vendor non-trade -6,716 -347 receivables Inventories -8,905 1,400 Other current and -21,117 -9,197 non-current assets Accounts payable 12,171 902 Other current and non-current 13,703 -11,076 liabilities Cash generated by operating 145,097 111,482 activities Investing activities: Purchases of marketable -54,945 -24,407 securities Proceeds from maturities of 34,815 40,907 marketable securities Proceeds from sales of 14,280 12,890 marketable securities Payments for acquisition of property, -9,041 -12,715 plant and equipment Other -2,389 -1,480 Cash generated by/(used in) -17,280 15,195 investing activities Financing activities: Payments for taxes related to net share -6,793 -5,960 settlement of equity awards Payments for dividends and -15,721 -15,421 dividend equivalents Repurchases of -86,390 -90,711 common stock Proceeds from issuance of term — 4,481 debt, net Repayments of term -12,396 -10,932 debt Repayments of commercial paper, -5,911 -2,032 net Other -235 -111 Cash used in financing -127,446 -120,686 activities Increase in cash, cash equivalents, and 371 5,991 restricted cash and cash equivalents Cash, cash equivalents, and restricted cash and cash $ 36,305 $ 35,934 equivalents, ending balances
Full text with the tables
Exhibit 99.1
Apple reports fourth quarter results
September quarter records for total company revenue, iPhone revenue, and EPS
Services revenue reaches new all-time high
CUPERTINO, CALIFORNIA — Apple ® today announced financial results for its fiscal
2026 fourth quarter ended September 26, 2026. The Company posted quarterly
revenue of $114.5 billion, up 12 percent year over year. Company gross margin
was 47.9 percent, including a favorable impact of approximately 1 percentage
point from tariff refunds. Diluted earnings per share was $2.10, up 14 percent
year over year, and included a favorable impact of $0.05 from tariff refunds.
“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.”
“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,” said Kevan Parekh, Apple’s CFO.
“We generated $28 billion in operating cash flow during the quarter, allowing us
to return $28 billion to shareholders. Thanks to our very high levels of
customer satisfaction and loyalty, our installed base of active devices reached
a new all-time high across all major product categories and geographic
segments.”
Apple’s board of directors has declared a cash dividend of $0.27 per share of
the Company’s common stock. The dividend is payable on November 16, 2026, to
shareholders of record as of the close of business on November 12, 2026.
Apple will provide live streaming of its Q4 2026 financial results conference
call beginning at 2:00 p.m. PT on November 2, 2026, at
apple.com/investor/earnings-call. The webcast will be available for replay for
approximately two weeks thereafter.
Apple periodically provides information for investors on its corporate website,
apple.com, and its investor relations website, investor.apple.com. This includes
press releases and other information about financial performance, reports filed
or furnished with the SEC, information on corporate governance, and details
related to its annual meeting of shareholders.
This press release contains forward-looking statements, within the meaning of
the Private Securities Litigation Reform Act of 1995. These forward-looking
statements include without limitation those about payment of the Company’s
quarterly dividend and future business plans. These statements involve risks and
uncertainties, and actual results may differ materially from any future results
expressed or implied by the forward-looking statements. Risks and uncertainties
include without limitation: effects of global and regional economic conditions,
including as a result of government policies, trade and other international
disputes, geopolitical tensions, conflict, terrorism, natural disasters, and
public health issues; risks relating to the design, manufacture, introduction,
and transition of products, services and technologies in highly competitive and
rapidly changing markets, including from reliance on third parties for
components, technology, manufacturing, applications, services, support, compute,
storage, and content; risks relating to information technology system failures,
network disruptions, and failure to protect, loss of, or unauthorized access to,
or release of, data; and effects of unfavorable legal proceedings, government
investigations, and complex and changing laws and regulations. More information
on these risks and other potential factors that could affect the Company’s
business, reputation, results of operations, financial condition, and stock
price is included in the Company’s filings with the SEC, including in the “Risk
Factors” and “Management’s Discussion and Analysis of Financial Condition and
Results of Operations” sections of the Company’s most recently filed periodic
reports on Form 10-K and Form 10-Q and subsequent filings. The Company assumes
no obligation to update any forward-looking statements, which speak only as of
the date they are made.
Apple revolutionized personal technology with the introduction of the Macintosh
in 1984. Today, Apple leads the world in innovation with iPhone, iPad, Mac,
AirPods, Apple Watch, and Apple Vision Pro. Apple’s six software platforms —
iOS, iPadOS, macOS, watchOS, visionOS, and tvOS — provide seamless experiences
across all Apple devices and empower people with breakthrough services including
the App Store, Apple Music, Apple Pay, iCloud, and Apple TV. Apple’s more than
150,000 employees are dedicated to making the best products on earth and to
leaving the world better than we found it.
Press Contact:
Nick Leahy
Apple
nleahy@apple.com
(408) 862-5012
Investor Relations Contact:
Suhasini Chandramouli
Apple
suhasini@apple.com
(408) 974-3123
NOTE TO EDITORS: For additional information visit Apple Newsroom
(www.apple.com/newsroom), or email Apple’s Media Helpline at
media.help@apple.com.
© 2026 Apple Inc. All rights reserved. Apple and the Apple logo are trademarks
of Apple. Other company and product names may be trademarks of their respective
owners.
Apple Inc.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)
(In millions, except number of shares, which are reflected in thousands, and
per-share amounts)
Three Septem… Septem… Twelve Septem… Septemb…
Months 26, 27, Months 26, 27,
Ended 2026 2025 Ended 2026 2025
──────────────────────────────────────────────────────────────────────────────
Net
sales:
Produ… $ 82,904 $ 73,716 $ 355,533 $ 307,003
Servi… 31,573 28,750 123,301 109,158
Total
net 114,477 102,466 478,834 416,161
sales…
Cost
of
sales:
Produ… 52,064 47,019 215,874 194,116
Servi… 7,593 7,106 29,358 26,844
Total
cost 59,657 54,125 245,232 220,960
of
sales
Gross 54,820 48,341 233,602 195,201
margin
Opera…
expen…
Resea…
and 11,730 8,866 45,765 34,550
devel…
Selli…
gener… 7,459 7,048 29,774 27,601
and
admin…
Total
opera… 19,189 15,914 75,539 62,151
expen…
Opera… 35,631 32,427 158,063 133,050
income
Other
incom… 504 377 1,174 -321
net
Income
before
provi… 36,135 32,804 159,237 132,729
for
income
taxes
Provi…
for 5,424 5,338 27,062 20,719
income
taxes
Net $ 30,711 $ 27,466 $ 132,175 $ 112,010
income
Earni…
per
share:
Basic $ 2.11 $ 1.85 $ 9.01 $ 7.49
Dilut… $ 2.10 $ 1.85 $ 8.98 $ 7.46
Shares
used
in
compu…
earni…
per
share:
Basic 14,570… 14,815… 14,661… 14,948,…
Dilut… 14,630… 14,863… 14,720… 15,004,…
(1)Net
sales
by
repor…
segme…
Ameri… $ 48,680 $ 44,192 $ 198,083 $ 178,353
Europe 32,008 28,703 127,604 111,032
Great… 17,539 14,493 82,378 64,377
China
Japan 6,540 6,636 30,908 28,703
Rest
of 9,710 8,442 39,861 33,696
Asia
Pacif…
Total
net $ 114,477 $ 102,466 $ 478,834 $ 416,161
sales
(1)Net
sales
by
categ…
iPhone $ 57,583 $ 49,025 $ 254,098 $ 209,586
Mac 10,792 8,726 37,929 33,708
iPad 6,229 6,952 27,929 28,023
Weara…
Home 8,300 9,013 35,577 35,686
and
Acces…
Servi… 31,573 28,750 123,301 109,158
Total
net $ 114,477 $ 102,466 $ 478,834 $ 416,161
sales
Apple Inc.
CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)
(In millions, except number of shares, which are reflected in thousands, and par
value)
September 26, September 27,
2026 2025
──────────────────────────────────────────────────────────────────────────────
ASSETS:
Current assets:
Cash and cash equivalents $ 36,305 $ 35,934
Marketable securities 20,417 18,763
Accounts receivable, net 43,817 39,777
Vendor non-trade receivables 39,896 33,180
Inventories 14,541 5,718
Other current assets 18,881 14,585
Total current assets 173,857 147,957
Non-current assets:
Marketable securities 80,213 77,723
Property, plant and equipment, net 52,084 49,834
Intangible assets, net 20,278 11,093
Other non-current assets 78,116 72,634
Total non-current assets 230,691 211,284
Total assets $ 404,548 $ 359,241
LIABILITIES AND SHAREHOLDERS’
EQUITY:
Current liabilities:
Accounts payable $ 82,252 $ 69,860
Other current liabilities 66,124 66,387
Deferred revenue 9,636 9,055
Commercial paper 1,997 7,979
Term debt 9,906 12,350
Total current liabilities 169,915 165,631
Non-current liabilities:
Term debt 68,208 78,328
Other non-current liabilities 54,332 41,549
Total non-current liabilities 122,540 119,877
Total liabilities 292,455 285,508
Commitments and contingencies
Shareholders’ equity:
Common stock and additional paid-in
capital, $0.00001 par value:
50,400,000 shares authorized; 104,815 93,568
14,532,259
and 14,773,260 shares issued and
outstanding, respectively
Retained earnings/(Accumulated 13,700 -14,264
deficit)
Accumulated other comprehensive loss -6,422 -5,571
Total shareholders’ equity 112,093 73,733
Total liabilities and shareholders’ $ 404,548 $ 359,241
equity
Apple Inc.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)
(In millions)
September 26, September 27,
Twelve Months Ended 2026 2025
──────────────────────────────────────────────────────────────────────────────
Cash, cash
equivalents, and
restricted
cash and cash $ 35,934 $ 29,943
equivalents,
beginning
balances
Operating
activities:
Net income 132,175 112,010
Adjustments to
reconcile net
income to
cash generated by
operating
activities:
Depreciation and 13,423 11,698
amortization
Share-based
compensation 13,789 12,863
expense
Other 568 -89
Changes in
operating assets
and
liabilities:
Accounts -3,994 -6,682
receivable, net
Vendor non-trade -6,716 -347
receivables
Inventories -8,905 1,400
Other current and -21,117 -9,197
non-current assets
Accounts payable 12,171 902
Other current and
non-current 13,703 -11,076
liabilities
Cash generated by
operating 145,097 111,482
activities
Investing
activities:
Purchases of
marketable -54,945 -24,407
securities
Proceeds from
maturities of 34,815 40,907
marketable
securities
Proceeds from
sales of 14,280 12,890
marketable
securities
Payments for
acquisition of
property, -9,041 -12,715
plant and
equipment
Other -2,389 -1,480
Cash generated
by/(used in) -17,280 15,195
investing
activities
Financing
activities:
Payments for taxes
related to net
share -6,793 -5,960
settlement of
equity awards
Payments for
dividends and -15,721 -15,421
dividend
equivalents
Repurchases of -86,390 -90,711
common stock
Proceeds from
issuance of term — 4,481
debt, net
Repayments of term -12,396 -10,932
debt
Repayments of
commercial paper, -5,911 -2,032
net
Other -235 -111
Cash used in
financing -127,446 -120,686
activities
Increase in cash,
cash equivalents,
and 371 5,991
restricted cash
and cash
equivalents
Cash, cash
equivalents, and
restricted
cash and cash $ 36,305 $ 35,934
equivalents,
ending
balances