Apple reported revenue of $114.5 billion for its fiscal 2026 fourth quarter on 2 November, 12 per cent higher than a year earlier and a record for the September period. The company said full-year revenue reached an all-time high of $479 billion, making fiscal 2026 its best year.
Diluted earnings per share were $2.10, up 14 per cent, including a $0.05 benefit from tariff refunds. Gross margin was 47.9 per cent, with roughly one percentage point of that coming from the same refunds. Apple said net income and earnings per share both set September-quarter records.
Fiscal 2026 fourth quarterReported
Revenue$114.5 billion, up 12 per cent
Gross margin47.9 per cent
Diluted earnings per share$2.10, up 14 per cent
Operating cash flow$28 billion
Returned to shareholders$28 billion
Cash dividend$0.27 per share, payable 16 November
iPhone set a September-quarter record and Services reached an all-time high, Apple said. The installed base of active devices also hit an all-time high across every major product category and geographic segment. Operating cash flow was $28 billion and the company returned the same amount to shareholders.
“Today, Apple is proud to report a September quarter revenue record of $114.5 billion, up 12 percent from a year ago,” said John Ternus, Apple’s CEO. CFO Kevan Parekh said the quarter’s $28 billion in operating cash flow allowed the company to return $28 billion to shareholders.
Apple Newsroom’s release gives no dollar figure for net income and no breakdown of revenue by product category or region. It does not compare the 47.9 per cent margin with earlier periods, and it does not say whether the tariff refunds are one-off or expected to recur. The consolidated financial statements are linked only as a PDF.
Why it matters
Ternus framed the year around a closing lineup of iPhone Duo, iPhone 18 Pro and Pro Max, new home hardware, Touch on Mac for the first time and an all-new Siri AI, so the record quarter is being told as a product story. Our earlier coverage of the iPhone Duo shortage and screen cracks is the backdrop to that. In our view, tariff refunds flatter the margin by about a point, and 47.9 per cent is not yet a clean run rate.