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Apple continued to see sales in its flagship iPhone family balloon, while the tech giant’s services business hit a new all-time high, in the first earnings report under CEO John Ternus.
The financial results were for Apple’s fiscal 2026 fourth quarter ended Sept. 26, 2026. Total iPhone revenue of $57.58 billion increased 17% and Apple’s Services segment revenue of $31.57 billion — a new record — was up 9.8%. The Services segment includes the App Store, Apple TV, Apple Music, Apple Pay, AppleCare, iCloud and advertising.
The company posted total quarterly revenue of $114.5 billion, up 12% year over year. Overall gross margin was 47.9 percent, including a favorable impact of approximately one percentage point from tariff refunds, after the Supreme Court invalidated Trump’s tariffs. Diluted earnings per share came in at $2.10, up 14% year over year, and included a favorable impact of $0.05 from tariff refunds.
Sales of iPhone reached a September-quarter record and Services hit an all-time high, “capping off our best fiscal year ever,” Ternus said in a statement.
Ternus was Apple’s head of hardware before taking over the CEO role from Tim Cook as of Sept. 1. He said the tech giant is “closing the year with our most ambitious lineup yet,” citing the foldable iPhone Duo, alongside iPhone 18 Pro and iPhone 18 Pro Max. “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,” Ternus said.
