Today, Apple reported its 2026 Q3 earnings, posting quarterly revenue of $109.4 billion. Here are the highlights:
- Revenue was $109.4B, up 16.4% from Q3 FY25.
- iPhone revenue was $54.3B, up 21.7%, and represented 49.6% of Apple’s total revenue.
- Services revenue was $30.7B, up 12.1%, and represented 28.1% of Apple’s total revenue.
- Gross margin was $54.8B, up 25.3%, with an overall gross margin rate of 50.1%.
- Net income was $29.8B, up 27.1%.
- Operating cash flow was $34.4B, up 23.3%.
- Diluted EPS was $2.02, up 28.7%.
Apple CEO Tim Cook had this to say about the results:
Today, Apple is proud to report our strongest June quarter ever, with double-digit revenue growth across iPhone, Mac and Services, and in every geographic segment. At WWDC26, we were thrilled to introduce the all-new Siri AI, alongside all of Apple’s latest software innovations and important new child safety features.
For additional context, here’s how the results break down:
In Apple’s latest quarter: every reportable region grew, Services reached $30.7B, and gross margin was 50.1%.
iPhone remained Apple’s largest business at $54.3B, and four of five reportable categories grew year over year. Together, iPhone and Services accounted for 77.7% of Apple’s $109.4B in net sales.
iPhone revenue reached $54.3B, or 49.6% of Apple’s total revenue, keeping it the company’s largest consumer business.
Services reached $30.7B at a 75.6% gross margin, accounting for 28.1% of revenue but 42.4% of gross margin.
Products carried most of the revenue at $78.7B, but Services kept 75.6% of every dollar against Products’ 40.1%.
Every reportable region grew, and Europe contributed the most new revenue at $5.4B, or 35.0% of Apple’s $15.4B in growth.
Going into today’s earnings call, expectations were high among analysts, who anticipated revenue of $108–109 billion and diluted earnings per share of $1.89. Apple’s results landed at the high end of the expected revenue range and exceeded expectations for earnings per share.
