Apple Inc. designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide.
Apple (AAPL): Q3 FY2026 results
Apple reported fiscal third quarter results after the close on Thursday 30 July, the last set Tim Cook presented before John Ternus takes over as chief executive on 1 September.
Revenue rose 16 percent to $109.4 billion, ahead of the $108.7 billion consensus and a June quarter record. Diluted earnings per share of $2.02 rose 29 percent against a $1.89 estimate, and included $0.11 from tariff refunds following the Supreme Court decision striking the tariffs down. Net income reached $29.8 billion.
| Metric | Actual | Consensus |
| Revenue | $109.4bn | $108.7bn |
| Diluted EPS | $2.02 | $1.89 |
| iPhone revenue | $54.25bn | $53.86bn |
| Services revenue | $30.74bn | $31.22bn |
| Greater China revenue | $18.82bn | $19.6bn |
| Q4 FY26 revenue growth guidance | 9 to 11% | 12% implied |
iPhone revenue rose 22 percent to $54.25 billion and Mac rose 29 percent to $10.35 billion, above the $8.74 billion expected. iPad fell 6 percent to $6.19 billion. Services rose 12 percent to $30.74 billion, short of estimates, and fell sequentially for the first time since 2022. Kevan Parekh attributed the slower growth rate to currency, the absence of an F1 theatrical release, mobile gaming, App Store business model changes and the US link-out ruling. Apple set June quarter revenue records in every geographic segment, though Greater China’s $18.8 billion fell short of the roughly $19.6 billion expected. Gross margin of 50.1 percent included about 2 points from tariff refunds; excluding those it was 48.1 percent, the midpoint of April guidance.
Parekh guided September quarter revenue growth of 9 to 11 percent, implying $111.7 to $113.7 billion against $114.95 billion consensus, and gross margin of 47 to 48 percent including about 1 point of tariff refund benefit. He pointed to a 2.5 point currency headwind and to supply constraints that “increase significantly sequentially”, affecting iPhone, Mac and iPad. Cook traced the constraint to advanced node capacity and to Apple’s own forecasting: “It’s a demand forecast issue, to be candid, where the iPhone and the Mac are both doing remarkably better than we thought they would do.” Parekh said memory costs explain more than 100 percent of the 160 basis point step down from 48.1 percent to the September midpoint. Cook called it “a 100-year flood on the memory pricing” and said Apple reluctantly raised prices in response.
Shares closed down 1.4 percent at $333.43, then fell 6.5 percent after hours to $311.80. Apple had briefly crossed $5 trillion of market value intraday on 28 July. The dividend held at $0.27 and buybacks totalled $25.8 billion for the quarter.
