Apple reported a 12% increase in revenue to US$114.5 billion for the fourth quarter ended September 2026, with net income reaching US$30.7 billion and diluted earnings per share rising to US$2.10.
The results marked John Ternus’s first earnings call as chief executive following Tim Cook’s departure. The company recorded growth across its iPhone, Mac and Services businesses, although revenue declined in its iPad and Wearables, Home and Accessories divisions.
iPhone revenue increased by 17% to US$57.6 billion, while Mac revenue rose by 24% to US$10.8 billion. Apple finance chief Kevan Parekh attributed Mac growth partly to demand for the MacBook Neo and MacBook Pro.
Services revenue increased by 10% to a record US$31.6 billion. However, iPad revenue declined by 10% to US$6.2 billion, while Wearables, Home and Accessories revenue fell by 8% to US$8.3 billion. Parekh attributed the declines to supply constraints and comparisons with product launches during the previous year.
Apple closed its financial year with record revenue of US$478.8 billion and earnings per share of US$8.98.
The company is also exploring paid access to expanded artificial intelligence capabilities as demand for server-based processing increases. Ternus said features relying on server-side models, including Siri AI and intelligent photo editing, would have usage limits, with customers potentially able to purchase additional capacity in the future. Apple has not announced pricing.
Apple is positioning the iPhone as an intelligent personal hub while promoting the Mac mini and Mac Studio for local AI processing.
Ternus also highlighted rising memory costs, describing their increase as unprecedented, while unfavourable foreign exchange movements continued to affect the company’s performance.
Apple has expanded its Services offering through iCloud+ subscriptions that include Apple TV and Apple Arcade at no additional cost in more than 100 countries. The company has also introduced advertising in Apple Maps in the United States and Canada, providing local businesses with another channel to reach customers.
