Apple posts record $114.5B quarter in Ternus's first as CEO

Apple has reported results for the fourth quarter of its 2026 fiscal year. The period, which corresponds to the third calendar quarter, was notable not only for the August and September product launches but also for a change at the top: the CEO role passed from Tim Cook to John Ternus on September 1, in the final month of the quarter.

The company posted $114.5 billion in revenue and $30.7 billion in net income, with diluted earnings per share of $2.10. Apple said it set September-quarter records for total revenue, iPhone revenue and earnings per share, and that Services revenue reached an all-time high.

A clear step up from a year earlier

In the same quarter last year, Apple reported $102.5 billion in revenue and $27.5 billion in net income, with earnings per share of $1.85. This quarter, revenue rose 12 percent to $114.5 billion, net income climbed to $30.7 billion and earnings per share reached $2.10. Gross margin also edged up, from 47.2 percent to 47.9 percent, meaning the company not only brought in more revenue but kept a slightly larger share of it as gross profit.

Apple also announced a quarterly dividend of $0.27 per share, payable on November 16 to shareholders of record as of November 12. Because Apple's fiscal year does not follow the calendar year, this quarter also marks the close of its fiscal year.

A record fiscal year of $478.8 billion in sales

For the full fiscal year, Apple recorded $478.8 billion in sales and $132.2 billion in net income. The previous records, set in fiscal 2025, were $416.2 billion in sales and $112.0 billion in net income. Apple described the year as its best ever.

The headlines Apple chose for the quarter show how it is framing the results: a strong showing for both the iPhone and Services, with records in total revenue, iPhone revenue and earnings per share, plus an all-time high for Services.

Ternus leads with the product lineup

In his statement, Ternus said the company closed the year with its most ambitious product lineup yet. He put the iPhone Duo at the head of that lineup, calling it the most transformative iPhone since the original. Alongside it, the iPhone 18 Pro and iPhone 18 Pro Max were presented as the most powerful iPhones the company has made.

Ternus also pointed to an entirely new generation of home hardware and to touch support arriving on the Mac for the first time. Together with the new Siri AI experience, he said, these products make up a strong lineup heading into the final stretch of the year and the holiday season.

Apple will webcast its investor call on the results at 2 p.m. Pacific time. The call is the company's standard way of walking investors through the quarter, and further detail may come up there.