Apple reported fiscal fourth-quarter revenue of $114.5 billion, up 12% from $102.5 billion a year earlier, according to the earnings release it filed with the US Securities and Exchange Commission. The quarter ended September 26, 2026. It is the first quarterly report since John Ternus became chief executive on September 1, TechCrunch reported. Gross margin was 47.9%, which includes a benefit of about one percentage point from tariff refunds, the release says. Diluted earnings per share were $2.10, up 14% from $1.85, including $0.05 from tariff refunds. Net income was $30.7 billion, against $27.5 billion a year earlier.

Revenue by category

  • iPhone: $57.6 billion, against $49.0 billion a year earlier (up 17.5%)
  • Mac: $10.8 billion, against $8.7 billion (up 23.7%)
  • iPad: $6.2 billion, against $7.0 billion (down 10.4%)
  • Wearables, Home and Accessories: $8.3 billion, against $9.0 billion (down 7.9%)
  • Services: $31.6 billion, against $28.8 billion (up 9.8%)

The percentage changes are Lens's calculations from the release's dollar figures. Products revenue was $82.9 billion against $73.7 billion, and fiscal 2026 revenue was $478.8 billion against $416.2 billion, about 15% higher by Lens's calculation.

Cash flow and capital return

Chief financial officer Kevan Parekh said Apple generated about $28 billion in operating cash flow in the quarter and returned about $28 billion to shareholders. The cash flow statement shows twelve-month operating cash flow of $145.1 billion, dividend payments of $15.7 billion and share repurchases of $86.4 billion. The board declared a quarterly dividend of $0.27 per share, payable November 16, 2026 to holders of record on November 12.

Ternus said in the release: “We're closing the year with our most ambitious lineup yet.” Parekh said: “Apple delivered September quarter records for net income and EPS.” The release gives no guidance for the next quarter.

The earnings call

Apple scheduled its call for November 2 at 2:00 p.m. Pacific time, with Ternus and Parekh, according to 9to5Mac. Lens did not find a transcript or post-call coverage that it could read.

Sources and notes

Source: Apple's earnings release (SEC Form 8-K, Exhibit 99.1). The release does not state its own date. Headlines in Techmeme's feed that summarize other outlets describe China sales missing estimates, Ternus expecting memory costs to keep rising, and inventory up 154% to $14.54 billion. Lens did not read those articles and has not used those figures. Related: Apple's new CEO says the company won't ship AI for AI's sake and Apple retakes the title of world's most valuable company from Nvidia.

Image: IPhone 17, Air, 17 Pro, and Pro max.jpg by Premeditated, CC BY-SA 4.0, via Wikimedia Commons; cropped. Commons marks the image as showing trademarked products. It shows four iPhone 17 models on display in an Apple Store. Illustrative photo; it does not show the events described.