Apple Reports Strong Quarterly Earnings in First Report Under CEO John Ternus

Apple exceeded Wall Street profit and sales forecasts in its fiscal fourth-quarter earnings report, marking the first financial results under Chief Executive Officer John Ternus. The company posted total quarterly revenue of $114.5 billion, representing a 12% increase compared to the same period last year. Despite beating analyst expectations for both earnings and overall sales, Apple shares experienced a slight decline in after-hours trading.

For the quarter ended September 26, 2026, Apple reported diluted earnings of $2.10 per share on net income of $30.71 billion, which was also up 12% year-over-year. Analysts had generally expected earnings of about $2.00 per share on revenue of $113.4 billion. However, the reported figures included a one-off favorable impact of $0.05 per share from tariff refunds following a Supreme Court ruling that invalidated previous tariffs.

Hardware sales performed robustly, anchored by a September-quarter record for the iPhone. Total iPhone revenue reached $57.58 billion, up 17% from the previous year. Mac sales also posted strong gains, jumping 24% to $10.79 billion. Meanwhile, iPad and wearables sales saw minor declines, dropping 10% and 8% respectively.

Apple's Services segment reached a new all-time high of $31.57 billion, matching analyst forecasts and growing nearly 10% year-over-year. This division encompasses the App Store, Apple TV, Apple Music, Apple Pay, AppleCare, iCloud, and advertising. Chief Executive John Ternus highlighted the milestones in a statement, calling it the conclusion of the company's best fiscal year ever.

Despite the overall beat, certain regional figures fell short of expectations. Sales in Greater China grew 21% to reach $17.54 billion, but analysts had anticipated roughly $18.55 billion. Market observers noted that this regional shortfall, combined with pre-earnings stock movement, tempered investor enthusiasm.

Looking ahead, Apple provided guidance for the upcoming December quarter, projecting total revenue growth of 7% to 10% year-over-year. This upcoming period will include the crucial holiday shopping season and full-quarter sales for the new iPhone 18 Pro lineup, foldable iPhone Duo, and other hardware introductions.