Apple (NASDAQ:AAPL) Caps Best-Ever Fiscal Year with Record September Quarter Revenue and EPS

Aditi Sarkar

11 November 2026 03:14 PM AEDT

Apple (NASDAQ:AAPL) Caps Best-Ever Fiscal Year with Record September Quarter Revenue and EPS

Image Source: Shutterstock

You are reading a free article with opinions that may differ from the recommendation given by Kalkine in its paid research reports. Become a Kalkine member today to get access to our research reports, in-depth technical and fundamental research. Learn more

Start Your Free Trial Now!

Highlights

Q4 FY2026 Revenue was a record $114.5 billion, up 12% year-over-year, with diluted EPS of $2.10, up 14%; iPhone revenue set a September quarter record at $57.6 billion.
Services revenue reached an all-time high of $31.6 billion, up 10% year-over-year, supported by an installed base of over 2.5 billion active devices and 1.5 billion paid subscriptions.
Full fiscal year 2026 revenue was a record $478.8 billion, up approximately 15% from fiscal 2025, with annual Net Income of $132.2 billion.
Apple guided fiscal Q1 2027 (holiday quarter) revenue growth of 7%–10%, which the CFO said would be the best quarter for revenue in company history.

Apple (NASDAQ:AAPL) reported record fourth-quarter and full-year fiscal 2026 results, capping what CEO John Ternus described as the company's best fiscal year ever. The quarter set September records for revenue, iPhone sales, and earnings per share, while Services reached an all-time high.

September Quarter Records Across Key Metrics

Revenue for the fiscal fourth quarter ended September 26, 2026 was $114.5 billion, up 12% from $102.5 billion in the year-earlier period and above analyst consensus of approximately $112.95 billion. Diluted EPS was $2.10, up 14% year-over-year, including a $0.05 benefit from Tariff refunds. Excluding the tariff refund, diluted EPS was $2.05, still above consensus of $1.98. Net income rose to $30.7 billion. Gross Margin for the quarter was 47.9%, including an approximately one percentage point benefit from tariff refunds.

iPhone and Services Lead Product Performance

iPhone revenue surged 17.5% year-over-year to $57.6 billion — a September quarter record — driven by strong Demand for the iPhone 18 lineup and the first-ever foldable iPhone, the iPhone Duo. Mac revenue rose 23.7% to $10.8 billion, supported by continued adoption of Apple's proprietary silicon. Services revenue grew approximately 10% to $31.6 billion, reaching an all-time high and reflecting the company's successful monetisation of its installed base of over 2.5 billion active devices and more than 1.5 billion paid subscriptions globally. iPad revenue declined 10.4% to $6.2 billion and Wearables, Home and Accessories fell 7.9% to $8.3 billion.

Record Full Fiscal Year Results

For the full fiscal year 2026, Apple reported revenue of $478.8 billion, up approximately 15% from $416.2 billion in fiscal 2025 and a new annual record. Annual net income was $132.2 billion, compared with $112.0 billion in the prior year, with annual diluted EPS of $8.98 versus $7.46. The results establish Apple as the highest-revenue technology company globally on an annual basis.

AI and New Product Initiatives for Fiscal 2027

Looking ahead, Apple guided fiscal Q1 2027 revenue growth of 7%–10% year-over-year and Services revenue growth of 8%–9%, with CFO Kevan Parekh stating this would represent the best revenue quarter in Apple's history. Memory cost increases were flagged as a potential headwind.

Download Free Report – Explore 3 Stock Ideas & Industry Insights

Unlock 3 stock ideas and key industry insights in our free report. This information is general in nature and does not consider your personal objectives, financial situation, or needs. It is not financial advice.

All investments involve risk—consider independent advice before making any investment decisions.

View 3 Research Reports

Disclaimer:

This article (“Article”) has been prepared by Kalkine Pty Limited (ABN 34 154 808 312) (Australian financial services licence number 425376) (“Kalkine”) and its related bodies corporate who are authorised to provide general financial product advice. Kalkine.com.au and its associated pages are published by Kalkine.

Any information/advice provided in this article is general in nature and does not take into account your objectives, financial situation or needs. You should therefore consider whether the information is appropriate for your objectives, financial situation and needs before acting upon it.

There may be a Product Disclosure Statement, Information Memorandum or other offer document (“Offer Document”) for the securities or other financial products referred to in Kalkine articles. You should obtain a copy of the Offer Document and consider it before making any decision about whether to acquire the security or financial product.

Kalkine strongly recommends that you seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice) before acting on any advice/information in this Article or on the Kalkine website. Not all investments are appropriate for all people.

The information in this Article and on Kalkine website has been prepared from a wide variety of sources, which Kalkine, to the best of its knowledge and belief, considers accurate. Kalkine has made every effort to ensure the reliability of the information contained in its articles (including this Article), newsletters and websites. All information represents our views at the date of publication and may change without notice.

The information in this Article does not constitute an offer to sell securities or other financial products or a solicitation of an offer to buy securities or other financial products.

Kalkine does not issue, sell or deal in any financial products.

This Article may contain information on past performance of particular investments. Please note past performance is neither an indicator nor a guarantee of future performance.

To the extent permitted by law, and excluding any dishonesty or gross negligence by Kalkine, Kalkine disclaims and excludes all liability for any direct, indirect, implied, punitive, special, incidental or other consequential loss or damage arising from the use of or reliance on this Article, the Kalkine website and any information published on the Kalkine website without any warranties or representations by Kalkine to you. To the extent the law prohibits or limits this exclusion, Kalkine limits its liability to the resupply of services.

Please also read our Terms & Conditions and Financial Services Guide for further information.

Employees and/or associates of Kalkine and its related entities may hold interests in the securities or other financial products covered in this Article or on the Kalkine website. Any such employees and associates are required to comply with certain safeguards, procedures and disclosures as required by law.

Some of the images/music that may be used in the Article are copyright to their respective owner(s). Kalkine does not claim ownership of any of the pictures displayed/music used in the Article unless stated otherwise. The images/music that may be used in the Article are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated or was found to be necessary.

Kalkine Media Pty Ltd, an affiliate of Kalkine Pty Ltd, may have received, or be entitled to receive, financial consideration in connection with providing information about certain entity(s) covered on its website.