Apple's revenue rose 12% to $114.5 billion last quarter, closing its biggest year ever, with tariff refunds adding to the margin
iPhone and Mac drove the September quarter, while iPad and wearables shrank. Apple said refunds of tariffs it had paid added about a point to its gross margin.
Key takeaways
- Fiscal Q4 revenue was $114.5 billion, up 12%, and earnings per share were $2.10, up 14%.
- Full-year fiscal 2026 revenue was about $479 billion, Apple's highest ever.
- Apple guided to December-quarter revenue growth of 7% to 10%.
Apple reported revenue of $114.5 billion for its fiscal fourth quarter, which ended September 26, up 12% from a year earlier, in results released on November 2. Diluted earnings per share were $2.10, up 14%. Full-year revenue reached about $479 billion, which chief executive John Ternus described as "capping off our best fiscal year ever."
Which products grew?
iPhone revenue rose 17% to $57.6 billion and Mac revenue jumped 24% to $10.8 billion, according to MacRumors' breakdown of Apple's figures. Services set a record at $31.6 billion, up 10%. iPad revenue fell 10% to $6.2 billion, and wearables, home and accessories fell 8% to $8.3 billion. Net income was $30.7 billion.
What did tariff refunds do?
Apple said its 47.9% gross margin included about one percentage point from tariff refunds, and that refunds added $0.05 to earnings per share. Importers have been seeking refunds of duties collected under the emergency tariff program; our guide to IEEPA tariff refunds explains how that process works for smaller companies. Apple generated $28 billion in operating cash flow and returned $28 billion to shareholders. Its board declared a dividend of $0.27 a share, payable November 16 to holders of record on November 12.
What happens next
For the December quarter, Apple expects revenue to grow 7% to 10% and gross margin of 45% to 46%, MacRumors reported from the earnings call. Results beat analysts' estimates of $113.47 billion in revenue and $2.00 a share, but the shares slipped about 1% after hours as investors focused on slowing growth, TheStreet reported.
Sources
- Apple Newsroom, “Apple reports fourth quarter results,” November 2, 2026
- MacRumors, “Apple Reports 4Q 2026 Results: $30.7B Profit on $114.5B Revenue,” November 2, 2026
- TheStreet, “Stock Market Today (Nov. 2, 2026),” November 2, 2026
Written by Action Global News from the sources above; quotations are attributed to the outlet that published them. See our editorial standards and corrections policy.
Frequently asked
How much revenue did Apple make in fiscal 2026?
About $479 billion, the highest in Apple's history, according to its November 2, 2026 results.
When is Apple's next dividend paid?
Apple declared $0.27 a share, payable November 16, 2026 to shareholders of record on November 12.