Apple Q4 revenue rises 12% to $114.5B; EPS hits $2.10
Services revenue set an all-time high, and Apple declared a $0.27-per-share cash dividend payable November 16, 2026.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Form Type
8-K
Rhea-AI Filing Summary
Apple Inc. reported fiscal fourth-quarter revenue of $114.5 billion, up 12% year over year, and diluted earnings per share of $2.10, up 14%. Net income was $30.711 billion, compared with $27.466 billion a year earlier. Gross margin was 47.9%, including an approximately 1 percentage point favorable impact from tariff refunds; diluted EPS included a favorable $0.05 impact from those refunds. iPhone revenue reached a September-quarter record, Services revenue an all-time high, and the installed base of active devices reached a new all-time high.
For fiscal 2026, Apple reported revenue of $478.834 billion, net income of $132.175 billion, and operating cash flow of $145.097 billion, compared with $416.161 billion, $112.010 billion, and $111.482 billion, respectively, in fiscal 2025. Apple said it generated $28 billion in operating cash flow during the quarter and returned $28 billion to shareholders. Quarterly iPhone revenue was $57.583 billion versus $49.025 billion; iPad revenue was $6.229 billion versus $6.952 billion; and Wearables, Home and Accessories revenue was $8.300 billion versus $9.013 billion. The board declared a $0.27-per-share cash dividend, payable November 16, 2026, to shareholders of record November 12, 2026.
3 points · 0 major0 major · 2 points
How this balance works
Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.
It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.
Rhea-AI Sentiment measures something else, the tone of the wording.
Positive
- Moderate pointQuarterly revenue reached $114.5 billion, up 12% year over year.
- Moderate pointDiluted EPS rose 14% year over year to $2.10.
- Moderate pointOperating cash flow increased to $145.097 billion from $111.482 billion.
Negative
- Minor pointiPad revenue was $6.229 billion, versus $6.952 billion a year earlier.
- Minor pointWearables, Home and Accessories revenue was $8.300 billion, versus $9.013 billion.
Filing Explained
Apple’s fiscal 2026 cash-flow statement reports
8-K Event Classification
2 items: 2.02, 9.01
2 items
Item 2.02
Results of Operations and Financial Condition
Financial
Disclosure of earnings results, typically an earnings press release or preliminary financials.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, or exhibit attachments filed with this report.
Key Figures
Fourth-quarter revenue: $114.5 billion
Diluted earnings per share: $2.10
Net income: $30.711 billion
+5 more
8 metrics
Fourth-quarter revenue
$114.5 billion
Fiscal 2026 fourth quarter; up 12% year over year
Diluted earnings per share
$2.10
Fiscal 2026 fourth quarter; up 14% year over year
Net income
$30.711 billion
Fiscal 2026 fourth quarter; compared with $27.466 billion in the prior-year quarter
Gross margin
47.9%
Fiscal 2026 fourth quarter; includes an approximately 1 percentage point favorable impact from tariff refunds
Fiscal-year revenue
$478.834 billion
Fiscal 2026; compared with $416.161 billion in fiscal 2025
Operating cash flow
$145.097 billion
Fiscal 2026; compared with $111.482 billion in fiscal 2025
iPad revenue
$6.229 billion
Fiscal 2026 fourth quarter; compared with $6.952 billion in the prior-year quarter
Cash dividend
$0.27 per share
Payable November 16, 2026
Key Terms
Gross margin, Operating cash flow, Marketable securities, Net share settlement
4 terms
Gross margin financial
"Company gross margin was 47.9 percent"
Gross margin is the difference between how much money a company makes from selling its products and how much it costs to produce them, expressed as a percentage of sales. It shows how efficiently a company is turning sales into profit before other expenses like marketing or salaries. Higher gross margin means the company keeps more money from each sale, which is a good sign of financial health.
Operating cash flow financial
"We generated $28 billion in operating cash flow"
Operating cash flow is the amount of money a company earns from its main business activities, like selling products or services. It shows how well the company can generate cash to pay bills, invest in growth, or return money to shareholders. This figure helps investors understand if the company’s core operations are healthy and sustainable.
Marketable securities financial
"Purchases of marketable securities"
Marketable securities are financial assets — such as publicly traded stocks, bonds, and short-term government bills — that a company can quickly sell for cash at a known price. Investors watch them because they show how much ready cash a company can access without selling core operations, like keeping money in a highly liquid savings account versus being tied up in a house, and they affect short-term risk, financial flexibility, and balance-sheet strength.
Earnings Snapshot
Revenue: $114.5 billion
Fiscal 2026 fourth quarter ended September 26, 2026
Revenue
$114.5 billion
Up 12% year over year
Diluted earnings per share
$2.10
Up 14% year over year
Net income
$30.711 billion
Compared with $27.466 billion in the prior-year quarter
Gross margin
47.9%
Includes an approximately 1 percentage point favorable impact from tariff refunds
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
How much revenue did AAPL report in its fourth quarter?
Apple reported fourth-quarter revenue of $114.5 billion, up 12% year over year. iPhone revenue reached a September-quarter record, and Services revenue reached an all-time high.
What was AAPL's diluted EPS for the fourth quarter?
Apple reported diluted earnings per share of $2.10, up 14% year over year. The figure included a favorable $0.05 impact from tariff refunds; gross margin was 47.9%, including an approximately 1 percentage point favorable impact from tariff refunds.
When will Apple's $0.27 dividend be paid?
Apple declared a cash dividend of $0.27 per share, payable November 16, 2026, to shareholders of record as of the close of business on November 12, 2026.
AI-generated analysis. How Rhea-AI works. Not financial advice.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported)
(Exact name of Registrant as specified in its charter)
| (State or other jurisdiction of incorporation) | (Commission File Number) | (I.R.S. Employer Identification No.) | ||||||||||||
(Address of principal executive offices) (Zip Code)
(408 ) 996-1010
(Registrant’s telephone number, including area code)
Not applicable
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the Registrant under any of the following provisions:
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | |||||
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | |||||
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | |||||
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) | |||||
Securities registered pursuant to Section 12(b) of the Act:
Title of each class | Trading symbol(s) | Name of each exchange on which registered | ||||||
Indicate by check mark whether the Registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the Registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.02 Results of Operations and Financial Condition.
On November 2, 2026, Apple Inc. (“Apple”) issued a press release regarding Apple’s financial results for its fourth fiscal quarter ended September 26, 2026. A copy of Apple’s press release is attached hereto as Exhibit 99.1.
The information contained in this Current Report shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.
Item 9.01 Financial Statements and Exhibits.
(d)Exhibits.
| Exhibit Number | Exhibit Description | |||||||
| 99.1 | Press release issued by Apple Inc. on November 2, 2026. | |||||||
| 104 | Inline XBRL for the cover page of this Current Report on Form 8-K. | |||||||
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Date: | November 2, 2026 | Apple Inc. | |||||||||||||||
| By: | /s/ Kevan Parekh | ||||||||||||||||
| Kevan Parekh | |||||||||||||||||
| Senior Vice President, Chief Financial Officer | |||||||||||||||||
Exhibit 99.1
Apple reports fourth quarter results
September quarter records for total company revenue, iPhone revenue, and EPS
Services revenue reaches new all-time high
CUPERTINO, CALIFORNIA — Apple® today announced financial results for its fiscal 2026 fourth quarter ended September 26, 2026. The Company posted quarterly revenue of $114.5 billion, up 12 percent year over year. Company gross margin was 47.9 percent, including a favorable impact of approximately 1 percentage point from tariff refunds. Diluted earnings per share was $2.10, up 14 percent year over year, and included a favorable impact of $0.05 from tariff refunds.
“Today, Apple is proud to report a September quarter revenue record of $114.5 billion, up 12 percent from a year ago, with iPhone reaching a September quarter record and Services reaching an all-time high, capping off our best fiscal year ever,” said John Ternus, Apple’s CEO. “We’re closing the year with our most ambitious lineup yet. That includes the iPhone Duo, the most transformational iPhone since the original, alongside iPhone 18 Pro and iPhone 18 Pro Max, our most powerful iPhones yet. 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.”
“Apple delivered September quarter records for net income and EPS. Our record September quarter capped off a strong fiscal 2026, with all-time record revenue of $479 billion and double-digit EPS growth,” said Kevan Parekh, Apple’s CFO. “We generated $28 billion in operating cash flow during the quarter, allowing us to return $28 billion to shareholders. Thanks to our very high levels of customer satisfaction and loyalty, our installed base of active devices reached a new all-time high across all major product categories and geographic segments.”
Apple’s board of directors has declared a cash dividend of $0.27 per share of the Company’s common stock. The dividend is payable on November 16, 2026, to shareholders of record as of the close of business on November 12, 2026.
Apple will provide live streaming of its Q4 2026 financial results conference call beginning at 2:00 p.m. PT on November 2, 2026, at apple.com/investor/earnings-call. The webcast will be available for replay for approximately two weeks thereafter.
Apple periodically provides information for investors on its corporate website, apple.com, and its investor relations website, investor.apple.com. This includes press releases and other information about financial performance, reports filed or furnished with the SEC, information on corporate governance, and details related to its annual meeting of shareholders.
This press release contains forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include without limitation those about payment of the Company’s quarterly dividend and future business plans. These statements involve risks and uncertainties, and actual results may differ materially from any future results expressed or implied by the forward-looking statements. Risks and uncertainties include without limitation: effects of global and regional economic conditions, including as a result of government policies, trade and other international disputes, geopolitical tensions, conflict, terrorism, natural disasters, and public health issues; risks relating to the design, manufacture, introduction, and transition of products, services and technologies in highly competitive and rapidly changing markets, including from reliance on third parties for components, technology, manufacturing, applications, services, support, compute, storage, and content; risks relating to information technology system failures, network disruptions, and failure to protect, loss of, or unauthorized access to, or release of, data; and effects of unfavorable legal proceedings, government investigations, and complex and changing laws and regulations. More information on these risks and other potential factors that could affect the Company’s business, reputation, results of operations, financial condition, and stock price is included in the Company’s filings with the SEC, including in the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of the Company’s most recently filed periodic reports on Form 10-K and Form 10-Q and subsequent filings. The Company assumes no obligation to update any forward-looking statements, which speak only as of the date they are made.
Apple revolutionized personal technology with the introduction of the Macintosh in 1984. Today, Apple leads the world in innovation with iPhone, iPad, Mac, AirPods, Apple Watch, and Apple Vision Pro. Apple’s six software platforms — iOS, iPadOS, macOS, watchOS, visionOS, and tvOS — provide seamless experiences across all Apple devices and empower people with breakthrough services including the App Store, Apple Music, Apple Pay, iCloud, and Apple TV. Apple’s more than 150,000 employees are dedicated to making the best products on earth and to leaving the world better than we found it.
Press Contact:
Nick Leahy
Apple
nleahy@apple.com
(408) 862-5012
Investor Relations Contact:
Suhasini Chandramouli
Apple
suhasini@apple.com
(408) 974-3123
NOTE TO EDITORS: For additional information visit Apple Newsroom (www.apple.com/newsroom), or email Apple’s Media Helpline at media.help@apple.com.
© 2026 Apple Inc. All rights reserved. Apple and the Apple logo are trademarks of Apple. Other company and product names may be trademarks of their respective owners.
Apple Inc.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)
(In millions, except number of shares, which are reflected in thousands, and per-share amounts)
| Three Months Ended | Twelve Months Ended | ||||||||||||||||||||||
| September 26, 2026 | September 27, 2025 | September 26, 2026 | September 27, 2025 | ||||||||||||||||||||
| Net sales: | |||||||||||||||||||||||
| Products | $ | 82,904 | $ | 73,716 | $ | 355,533 | $ | 307,003 | |||||||||||||||
| Services | 31,573 | 28,750 | 123,301 | 109,158 | |||||||||||||||||||
Total net sales (1) | 114,477 | 102,466 | 478,834 | 416,161 | |||||||||||||||||||
| Cost of sales: | |||||||||||||||||||||||
| Products | 52,064 | 47,019 | 215,874 | 194,116 | |||||||||||||||||||
| Services | 7,593 | 7,106 | 29,358 | 26,844 | |||||||||||||||||||
| Total cost of sales | 59,657 | 54,125 | 245,232 | 220,960 | |||||||||||||||||||
| Gross margin | 54,820 | 48,341 | 233,602 | 195,201 | |||||||||||||||||||
Operating expenses: | |||||||||||||||||||||||
Research and development | 11,730 | 8,866 | 45,765 | 34,550 | |||||||||||||||||||
Selling, general and administrative | 7,459 | 7,048 | 29,774 | 27,601 | |||||||||||||||||||
Total operating expenses | 19,189 | 15,914 | 75,539 | 62,151 | |||||||||||||||||||
Operating income | 35,631 | 32,427 | 158,063 | 133,050 | |||||||||||||||||||
Other income/(expense), net | 504 | 377 | 1,174 | (321) | |||||||||||||||||||
Income before provision for income taxes | 36,135 | 32,804 | 159,237 | 132,729 | |||||||||||||||||||
Provision for income taxes | 5,424 | 5,338 | 27,062 | 20,719 | |||||||||||||||||||
Net income | $ | 30,711 | $ | 27,466 | $ | 132,175 | $ | 112,010 | |||||||||||||||
Earnings per share: | |||||||||||||||||||||||
Basic | $ | 2.11 | $ | 1.85 | $ | 9.01 | $ | 7.49 | |||||||||||||||
Diluted | $ | 2.10 | $ | 1.85 | $ | 8.98 | $ | 7.46 | |||||||||||||||
Shares used in computing earnings per share: | |||||||||||||||||||||||
Basic | 14,570,195 | 14,815,307 | 14,661,935 | 14,948,500 | |||||||||||||||||||
Diluted | 14,630,318 | 14,863,609 | 14,720,306 | 15,004,697 | |||||||||||||||||||
(1) Net sales by reportable segment: | |||||||||||||||||||||||
Americas | $ | 48,680 | $ | 44,192 | $ | 198,083 | $ | 178,353 | |||||||||||||||
Europe | 32,008 | 28,703 | 127,604 | 111,032 | |||||||||||||||||||
Greater China | 17,539 | 14,493 | 82,378 | 64,377 | |||||||||||||||||||
Japan | 6,540 | 6,636 | 30,908 | 28,703 | |||||||||||||||||||
Rest of Asia Pacific | 9,710 | 8,442 | 39,861 | 33,696 | |||||||||||||||||||
Total net sales | $ | 114,477 | $ | 102,466 | $ | 478,834 | $ | 416,161 | |||||||||||||||
(1) Net sales by category: | |||||||||||||||||||||||
iPhone | $ | 57,583 | $ | 49,025 | $ | 254,098 | $ | 209,586 | |||||||||||||||
Mac | 10,792 | 8,726 | 37,929 | 33,708 | |||||||||||||||||||
iPad | 6,229 | 6,952 | 27,929 | 28,023 | |||||||||||||||||||
Wearables, Home and Accessories | 8,300 | 9,013 | 35,577 | 35,686 | |||||||||||||||||||
Services | 31,573 | 28,750 | 123,301 | 109,158 | |||||||||||||||||||
Total net sales | $ | 114,477 | $ | 102,466 | $ | 478,834 | $ | 416,161 | |||||||||||||||
Apple Inc.
CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)
(In millions, except number of shares, which are reflected in thousands, and par value)
| September 26, 2026 | September 27, 2025 | ||||||||||
| ASSETS: | |||||||||||
Current assets: | |||||||||||
Cash and cash equivalents | $ | 36,305 | $ | 35,934 | |||||||
Marketable securities | 20,417 | 18,763 | |||||||||
Accounts receivable, net | 43,817 | 39,777 | |||||||||
Vendor non-trade receivables | 39,896 | 33,180 | |||||||||
Inventories | 14,541 | 5,718 | |||||||||
Other current assets | 18,881 | 14,585 | |||||||||
Total current assets | 173,857 | 147,957 | |||||||||
Non-current assets: | |||||||||||
Marketable securities | 80,213 | 77,723 | |||||||||
Property, plant and equipment, net | 52,084 | 49,834 | |||||||||
| Intangible assets, net | 20,278 | 11,093 | |||||||||
Other non-current assets | 78,116 | 72,634 | |||||||||
Total non-current assets | 230,691 | 211,284 | |||||||||
Total assets | $ | 404,548 | $ | 359,241 | |||||||
| LIABILITIES AND SHAREHOLDERS’ EQUITY: | |||||||||||
Current liabilities: | |||||||||||
Accounts payable | $ | 82,252 | $ | 69,860 | |||||||
Other current liabilities | 66,124 | 66,387 | |||||||||
Deferred revenue | 9,636 | 9,055 | |||||||||
Commercial paper | 1,997 | 7,979 | |||||||||
Term debt | 9,906 | 12,350 | |||||||||
Total current liabilities | 169,915 | 165,631 | |||||||||
Non-current liabilities: | |||||||||||
Term debt | 68,208 | 78,328 | |||||||||
Other non-current liabilities | 54,332 | 41,549 | |||||||||
Total non-current liabilities | 122,540 | 119,877 | |||||||||
Total liabilities | 292,455 | 285,508 | |||||||||
Commitments and contingencies | |||||||||||
Shareholders’ equity: | |||||||||||
Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 14,532,259 and 14,773,260 shares issued and outstanding, respectively | 104,815 | 93,568 | |||||||||
| Retained earnings/(Accumulated deficit) | 13,700 | (14,264) | |||||||||
| Accumulated other comprehensive loss | (6,422) | (5,571) | |||||||||
Total shareholders’ equity | 112,093 | 73,733 | |||||||||
Total liabilities and shareholders’ equity | $ | 404,548 | $ | 359,241 | |||||||
Apple Inc.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)
(In millions)
| Twelve Months Ended | |||||||||||
| September 26, 2026 | September 27, 2025 | ||||||||||
| Cash, cash equivalents, and restricted cash and cash equivalents, beginning balances | $ | 35,934 | $ | 29,943 | |||||||
| Operating activities: | |||||||||||
| Net income | 132,175 | 112,010 | |||||||||
| Adjustments to reconcile net income to cash generated by operating activities: | |||||||||||
| Depreciation and amortization | 13,423 | 11,698 | |||||||||
| Share-based compensation expense | 13,789 | 12,863 | |||||||||
| Other | 568 | (89) | |||||||||
| Changes in operating assets and liabilities: | |||||||||||
| Accounts receivable, net | (3,994) | (6,682) | |||||||||
| Vendor non-trade receivables | (6,716) | (347) | |||||||||
| Inventories | (8,905) | 1,400 | |||||||||
| Other current and non-current assets | (21,117) | (9,197) | |||||||||
| Accounts payable | 12,171 | 902 | |||||||||
| Other current and non-current liabilities | 13,703 | (11,076) | |||||||||
| Cash generated by operating activities | 145,097 | 111,482 | |||||||||
| Investing activities: | |||||||||||
| Purchases of marketable securities | (54,945) | (24,407) | |||||||||
| Proceeds from maturities of marketable securities | 34,815 | 40,907 | |||||||||
| Proceeds from sales of marketable securities | 14,280 | 12,890 | |||||||||
| Payments for acquisition of property, plant and equipment | (9,041) | (12,715) | |||||||||
| Other | (2,389) | (1,480) | |||||||||
| Cash generated by/(used in) investing activities | (17,280) | 15,195 | |||||||||
| Financing activities: | |||||||||||
| Payments for taxes related to net share settlement of equity awards | (6,793) | (5,960) | |||||||||
| Payments for dividends and dividend equivalents | (15,721) | (15,421) | |||||||||
| Repurchases of common stock | (86,390) | (90,711) | |||||||||
| Proceeds from issuance of term debt, net | — | 4,481 | |||||||||
| Repayments of term debt | (12,396) | (10,932) | |||||||||
| Repayments of commercial paper, net | (5,911) | (2,032) | |||||||||
| Other | (235) | (111) | |||||||||
| Cash used in financing activities | (127,446) | (120,686) | |||||||||
| Increase in cash, cash equivalents, and restricted cash and cash equivalents | 371 | 5,991 | |||||||||
| Cash, cash equivalents, and restricted cash and cash equivalents, ending balances | $ | 36,305 | $ | 35,934 | |||||||