Apple Q4 2026: Record iPhone and Services Revenue Under New CEO
As seen on the 24/7 Wall St. homepage on November 2, 2026.
John Ternus opened his tenure as CEO with a September quarter record, iPhone revenue of $57.58 billion and Services at an all-time high topping expectations on both lines. Tariff refunds drove part of that, so the underlying beat is thinner than it looks, and the holiday setup rides on iPhone Duo and the revamped Siri.
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Apple set a September quarter revenue record of $114.48 billion in John Ternus's first quarter as chief executive, beating expectations on both revenue and EPS.
iPhone and Services both set records, lifting overall revenue 11.7% higher year over year.
Tariff refunds added $0.05 to diluted EPS, so the underlying run rate heading into the holiday quarter is narrower than the headline figures suggest.
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Apple gave no explicit financial guidance, leaving the holiday lineup (iPhone Duo, iPhone 18 Pro and Pro Max, new home hardware, Touch on Mac, and a revamped Siri AI platform) as the only forward signal the market can price.
Full-year revenue reached $478.83 billion, up 15.1% year over year, alongside a quarterly dividend of $0.27 per share payable November 16.
iPad and Wearables revenue declined year over year and R&D expense climbed sharply, a cost trajectory worth monitoring as Apple bets on its AI and hardware roadmap.
Mentioned: AAPL