Apple Posts Record $114.5B Q4 Revenue in Ternus's Debut

Apple reported fiscal fourth-quarter revenue of $114.48 billion, up 12 percent from a year earlier and above the $113.39 billion Wall Street expected, in its earnings release that doubled as John Ternus's first quarter as chief executive.

"Today, Apple is proud to report a September quarter revenue record of $114.5 billion, up 12 percent from a year ago, with iPhone reaching a September quarter record and Services reaching an all-time high," Ternus said. He took over from Tim Cook on September 1 and oversaw the launch of the iPhone Duo and Apple's first touchscreen MacBook Pro during the quarter.

iPhone brought in $57.58 billion, up 17.5 percent year over year and well past the $56.54 billion analysts had modeled. Services landed at $31.57 billion, a new record, up 9.8 percent from $30.73 billion in the same quarter last year. Mac was $10.79 billion, Wearables/Home/Accessories $8.30 billion, and iPad $6.23 billion.

Greater China revenue rose to $17.54 billion from $14.49 billion a year earlier. Operating cash flow was $28 billion in the quarter. Full-year fiscal 2026 revenue hit an all-time record $479 billion.

"Apple delivered September quarter records for net income and EPS," said CFO Kevan Parekh, pointing to "all-time record revenue of $479 billion and double-digit EPS growth." Diluted EPS of $2.10 was up 14 percent and included a $0.05 benefit from tariff refunds.

Ternus has been explicit about his own posture on the technology Wall Street most wants to hear about: in prior remarks he said Apple won't ship AI "for AI's sake," a line investors will now weigh against the quarters ahead.