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Apple (AAPL) Q4 2026 Earnings Report
AAPL Q4 2026 EPS Results
- Actual EPS
- $2.10
- Consensus EPS
- $1.99
- Beat/Miss
- Beat by +$0.11
- One Year Ago EPS
- $1.85
AAPL Q4 2026 Revenue Results
- Actual Revenue
- $114.48B
- Expected Revenue
- $113.40B
- Beat/Miss
- Beat by +$1.07B
- YoY Revenue Growth
- +11.72%
Earnings Announcement Details
- Quarter
- Q4 2026
- Date
- 11/02/2026
- Time
- After Close
- Conference Call
- Monday, November 2, 2026
AAPL Upcoming Earnings
Apple's next earnings date is estimated for February 4, 2027, based on past reporting schedules.
Q4 2026 Earnings Call Audio
AAPL Q4 2026 Earnings Call
0:00 / 0:00
Q4 2026 Earnings Slide Deck
No slide deck is available for this earnings event.
Q4 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call was strongly positive overall. Apple reported record quarterly and fiscal-year revenue and EPS, double-digit growth in iPhone and Mac, an all-time services revenue record, broad geographic growth, a record installed base and a positive December-quarter revenue outlook. The main challenges were supply constraints, declining iPad and Wearables revenue, higher memory costs, foreign exchange and other services headwinds, but these lowlights were outweighed by the breadth of reported records and growth initiatives.
Company Guidance
For the December quarter, assuming global tariff rates, policies and their application remain in effect as of this call and the global macroeconomic outlook does not worsen from today, Apple expects total company revenue to grow between 7% and 10% year-over-year, which it expects to be the best quarter for revenue in the history of the company; services revenue is expected to grow between 8% and 9% year-over-year, with sequential headwinds primarily driven by third-party licensing and foreign exchange, including an additional 0.5 percentage point of foreign exchange headwind; gross margin is expected to be between 45% and 46%, primarily reflecting higher memory costs and some costs related to the ramp of Siri AI; operating expenses are expected to be between $20.4 billion and $20.8 billion and to grow between 11% and 13% year-over-year, driven by increased and continued investment in R&D, in particular, AI; OI&E is expected to be around $300 million, excluding any potential impact from the mark-to-market of minority investments; and the tax rate is expected to be around 17%.
- Record Quarterly and Fiscal-Year RevenueApple reported September-quarter revenue of $114.5 billion, up 12% year-over-year and a September-quarter record. The results contributed to Apple's best-ever fiscal year for revenue and EPS, with fiscal-year revenue of $478.8 billion, up 15%, and fiscal-year EPS of $8.98, up 20%.
- Record Earnings and Cash GenerationNet income was $30.7 billion and diluted EPS was $2.10, up 14% year-over-year. Both set September-quarter records even excluding the $0.05 favorable impact from tariff refunds. Operating cash flow was $28.1 billion.
- Strong iPhone PerformanceiPhone revenue reached $57.6 billion, up 17% year-over-year despite supply constraints and foreign exchange headwinds. Apple achieved September-quarter revenue records in the U.S. and Greater China, as well as a record number of upgraders worldwide and in the U.S., Mainland China and India.
- Best-Ever Fiscal Year for iPhoneApple reported its best fiscal year ever for iPhone revenue worldwide and in every geographic segment. The iPhone active installed base reached an all-time high, and iPhone had a record year for upgraders globally and in the U.S., Mainland China, India and Japan.
- Mac Revenue and Market-Share GainsMac revenue was $10.8 billion, up 24% year-over-year despite supply constraints. Apple reported double-digit growth in the majority of tracked markets, a September-quarter revenue record in emerging markets, a record number of customers new to Mac, and global share gains during both the quarter and full fiscal year.
- Best-Ever Fiscal Year for MacApple sold more Macs in the fiscal year than ever before. Emerging markets delivered Mac's best fiscal year there, driven by record upgraders and customers new to the product, with all-time revenue records in markets including India and Southeast Asia.
- Services Reached an All-Time Revenue RecordServices revenue was $31.6 billion, up 10% year-over-year and an all-time record, despite more than 1.5 points of sequential foreign exchange headwinds. Apple reported all-time revenue records in video, cloud services, payment services and advertising, plus a September-quarter record in music.
- Expanding Services User BaseThe services business reached new all-time highs in transacting and paid accounts, with more than 1.5 billion paid subscriptions growing at a double-digit rate during the quarter. The App Store also reached nearly 1 billion average weekly visitors, a record.
- Installed Base Reached 2.5 Billion DevicesApple's installed base exceeded 2.5 billion active devices and reached another all-time high across all major product categories and geographic segments, providing the foundation Apple cited for future product and services opportunities.
- Greater China RecoveryGreater China revenue increased 21% in the September quarter to a quarterly record and increased 28% for the full fiscal year. The quarterly performance was primarily driven by iPhone and strong double-digit Mac growth. Apple also reported an all-time-high active installed base, a record year for iPhone upgraders in Mainland China, and believed it gained share in iPhone and Mac.
- Broad Geographic GrowthApple grew in the vast majority of tracked markets and set September-quarter records in the Americas, Europe, Greater China and the rest of Asia Pacific. The company also reported September-quarter revenue records in both developed and emerging markets, including an all-time record in India.
- New Product Launch CycleApple completed one of its most prolific launch periods, introducing the iPhone Duo, iPhone 18 Pro and Pro Max, a touch-enabled MacBook Pro, new iMac and 14-inch MacBook Pro, an OLED iPad Mini, Apple Watch Series 12 and Ultra 4, AirPods 5, Apple HomeView, Apple TV 4K and HomePod Mini.
- Positive Early Response to iPhone DuoApple said reviewers and customers had responded positively to the iPhone Duo. Developers were quickly adapting applications to the new foldable form factor, and Apple was working to get the product into customers' hands as quickly as possible.
- Siri AI ExpansionSiri AI launched in beta for U.S. English users in September and expanded to French, Japanese, Korean, Portuguese and Spanish in October. Apple reported positive reviews and feedback and described Siri AI as a private, personal assistant integrated across its platforms.
- AI Platform and Product OpportunitiesApple said its products are designed as platforms for both first-party and third-party AI applications. Mac Mini and Mac Studio were highlighted for local private AI, while Apple cited potential AI-related opportunities across product upgrades, third-party apps, partnerships and expanded access to server-side Siri AI features.
- iPad and Wearables Installed-Base GrowthAlthough iPad revenue declined, the iPad installed base reached an all-time high and more than half of iPad purchasers were new to the product. The wearables installed base also reached a new all-time high, with more than half of Apple Watch purchasers new to the product.
- Enterprise Adoption of Apple DevicesDuke Health performed the first surgical procedure using Apple Vision Pro with an FDA-authorized Stryker app. American Airlines is deploying more than 37,000 iPhone 17 devices and 25,000 iPads, while Gap is running AI on Mac Mini across hundreds of stores and Christie's is running local models on Mac Studio.
- Large Education Deal in the PhilippinesApple secured its largest education deal for Mac, with the Philippines Department of Education planning to deploy 170,000 MacBook Neos to teachers and staff.
- Entertainment and Payment-Service MilestonesApple TV productions earned more than 900 wins and over 3,800 nominations, and Apple TV programming earned more awards than any other network at the 78th Primetime Emmy Awards. Apple Pay launched in India with Axis Bank and is now available in more than 90 markets.
- Strong Capital Returns and Balance SheetApple ended the quarter with $137 billion in cash and marketable securities and $80 billion in total debt. It returned $28 billion to shareholders during the quarter, including $3.9 billion in dividends and $24 billion in share repurchases, and declared a quarterly cash dividend of $0.27 per share.
- U.S. Manufacturing and Supplier CommitmentApple said nearly 100 components in its newest iPhones come from American companies in more than a dozen states. The company supports more than 450,000 American jobs and described this activity as part of its $600 billion, four-year commitment to U.S. innovation and advanced manufacturing.
- Positive December-Quarter Revenue OutlookApple expects December-quarter total company revenue to grow between 7% and 10% year-over-year and said this is expected to be the best quarter for revenue in the company's history, based on its best view of constrained supply.
- Services Expansion Road MapApple expanded iCloud+ plans to include Apple TV and Apple Arcade in more than 100 countries and regions. Apple also described AppleCare One family, Apple Ads in the U.S. and Canada, Apple Pay expansion and potential paid expanded access to server-side Apple Intelligence features as ongoing services opportunities.
AAPL Earnings History
| Report Date | Fiscal Quarter | Forecast / EPS | Last Year's EPS | EPS YoY Change | Press Release |
|---|---|---|---|---|---|
| Feb 04, 2027 | 2027 (Q1) | 2.93- | 2.84 | ― | ― |
| Nov 02, 2026 | 2026 (Q4) | 1.992.10 | 1.85 | 13.51% (+0.25) | |
| Jul 30, 2026 | 2026 (Q3) | 1.892.02 | 1.57 | 28.66% (+0.45) | |
| Apr 30, 2026 | 2026 (Q2) | 1.952.01 | 1.65 | 21.82% (+0.36) | |
| Jan 29, 2026 | 2026 (Q1) | 2.672.84 | 2.4 | 18.33% (+0.44) | |
| Oct 30, 2025 | 2025 (Q4) | 1.781.85 | 1.64 | 12.80% (+0.21) | |
| Jul 31, 2025 | 2025 (Q3) | 1.441.57 | 1.4 | 12.14% (+0.17) | |
| May 01, 2025 | 2025 (Q2) | 1.631.65 | 1.53 | 7.84% (+0.12) | |
| Jan 30, 2025 | 2025 (Q1) | 2.352.40 | 2.18 | 10.09% (+0.22) | |
| Oct 31, 2024 | 2024 (Q4) | 1.601.64 | 1.46 | 12.33% (+0.18) |
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat Missed
