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Apple Posts 12% Revenue Growth as iPhone and Services Set Records
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Apple announced fiscal fourth-quarter results on November 2, 2026, reporting revenue of $114.5 billion for the quarter ended September 26, 2026, up 12% year over year, and diluted earnings per share of $2.10, up 14%.
Gross margin was 47.9%, which Apple said included a favorable impact of approximately one percentage point from tariff refunds. Diluted EPS included a favorable $0.05 impact from the same refunds. Net income was $30.7 billion, compared with $27.5 billion a year earlier, while operating income was $35.6 billion versus $32.4 billion.
Category and Regional Sales
Apple reported the following net sales by category for the quarter, alongside the year-ago period ended September 27, 2025:
| Category | Fiscal Q4 2026 | Fiscal Q4 2025 |
|---|---|---|
| iPhone | $57.6 billion | $49.0 billion |
| Mac | $10.8 billion | $8.7 billion |
| iPad | $6.2 billion | $7.0 billion |
| Wearables, Home and Accessories | $8.3 billion | $9.0 billion |
| Services | $31.6 billion | $28.8 billion |
Apple characterized total company revenue, iPhone revenue and earnings per share as September-quarter records, with Services revenue reaching an all-time high.
For the same quarter, Apple reported Americas revenue of $48.7 billion versus $44.2 billion a year earlier, Europe revenue of $32.0 billion versus $28.7 billion, and Greater China revenue of $17.5 billion versus $14.5 billion. Japan recorded $6.5 billion versus $6.6 billion, while Rest of Asia Pacific recorded $9.7 billion versus $8.4 billion.
Full-Year Results, Spending and Cash Flow
For fiscal 2026, Apple reported revenue of $478.8 billion, compared with $416.2 billion in fiscal 2025, and net income of $132.2 billion versus $112.0 billion. Diluted earnings per share were $8.98, compared with $7.46. Chief financial officer Kevan Parekh described fiscal 2026 revenue as an all-time record with double-digit EPS growth.
Research and development expense was $45.8 billion, compared with $34.6 billion, while selling, general and administrative expense was $29.8 billion versus $27.6 billion. Cash generated by operating activities was $145.1 billion, compared with $111.5 billion. Payments for acquisition of property, plant and equipment were $9.0 billion, versus $12.7 billion in the prior fiscal year.
Shareholder Returns and Dividend
Parekh said Apple generated $28 billion in operating cash flow during the quarter and returned $28 billion to shareholders, adding that its installed base of active devices reached a new all-time high across all major product categories and geographic segments.
The annual cash-flow statement reported $86.4 billion in common-stock repurchases and $15.7 billion in payments for dividends and dividend equivalents.
Apple’s board of directors declared a cash dividend of $0.27 per share, payable on November 16, 2026, to shareholders of record at the close of business on November 12, 2026.
The declaration sets a dated distribution separate from the repurchases and dividend payments already recorded for fiscal 2026.
