Apple Inc. (AAPL) Earnings: Q4 Fiscal 2026 Results and Next Report Date
Last updated November 2026
Short answer
Apple reported revenue of $114.5 billion for Q4 fiscal 2026, up 12% from a year earlier (Apple, Nov 2, 2026). Diluted EPS was $2.10, up 14% from $1.85. iPhone brought in $57,583 million, up 17%. Apple next reports around January 28, 2027 (an estimated date). Every figure is from Apple's release. Walnut is informational, not investment advice.
AAPL Q4 fiscal 2026 results
In one sentence
Apple reported revenue of $114.5 billion for Q4 fiscal 2026, up 12% from a year earlier (Apple, Nov 2, 2026).
| Measure | Q4 fiscal 2026 | Q4 fiscal 2025 | Change | Consensus |
|---|---|---|---|---|
| Revenue | $114,477 million | $102,466 million | up 12% | $113,350 million |
| Diluted EPS | $2.10 | $1.85 | up 14% | $1.99 |
Consensus: Yahoo Finance, pulled Nov 2, 2026, before the report (28 analysts for EPS, 25 for revenue).
The quarter ended September 26, 2026 and Apple published the results on November 2, 2026. Revenue and diluted EPS are shown against Q4 fiscal 2025, the same quarter a year earlier, which takes seasonal swings out of the comparison.
- Apple says gross margin included a favorable impact of about 1 percentage point from tariff refunds, and diluted EPS included a favorable impact of $0.05 from them.
Source: Apple Q4 fiscal 2026 results, November 2, 2026. Also in the Form 8-K, Exhibit 99.1. Figures as reported; checked against the release on November 8, 2026.
AAPL revenue by segment
How Apple splits revenue in its own release, under its own labels, for Q4 fiscal 2026 against Q4 fiscal 2025. Indented lines are parts of the line above them.
| Net sales by category | Q4 fiscal 2026 | Q4 fiscal 2025 | Change |
|---|---|---|---|
| iPhone | $57,583 million | $49,025 million | up 17% |
| Mac | $10,792 million | $8,726 million | up 24% |
| iPad | $6,229 million | $6,952 million | down 10% |
| Wearables, Home and Accessories | $8,300 million | $9,013 million | down 8% |
| Services | $31,573 million | $28,750 million | up 10% |
- Apple's iPhone revenue was $57.6 billion in Q4 fiscal 2026, up 17% from $49.0 billion in Q4 fiscal 2025, 50% of total revenue.
- Apple's Mac revenue was $10.8 billion in Q4 fiscal 2026, up 24% from $8.7 billion in Q4 fiscal 2025, 9% of total revenue.
- Apple's iPad revenue was $6.2 billion in Q4 fiscal 2026, down 10% from $7.0 billion in Q4 fiscal 2025, 5% of total revenue.
- Apple's Wearables, Home and Accessories revenue was $8.3 billion in Q4 fiscal 2026, down 8% from $9.0 billion in Q4 fiscal 2025, 7% of total revenue.
- Apple's Services revenue was $31.6 billion in Q4 fiscal 2026, up 10% from $28.8 billion in Q4 fiscal 2025, 28% of total revenue.
Segment lines are the figures writers cite most often, because they show where the growth in a quarter came from. Companies redraw their segments from time to time and restate the prior year to match, so a year-ago figure here can differ from the one printed a year ago. When that has happened, the note above says so.
Apple's outlook for the December quarter (Q1 fiscal 2027)
From the earnings call
Apple's results release contains no outlook. Its CFO gives one on the earnings call.
On the Q4 fiscal 2026 earnings call, Kevan Parekh, CFO said:
“We expect our December quarter total company revenue to grow between 7% and 10% year-over-year, which reflects our best view of constrained supply.”
“We expect services revenue to grow between 8% and 9% year-over-year in the December quarter.”
“We expect gross margin to be between 45% and 46%.”
“This includes primarily the impact of higher memory costs as well as some costs related to the ramp of Siri AI.”
“We expect operating expenses to be between $20.4 billion and $20.8 billion.”
“We expect OI&E to be around $300 million, excluding any potential impact from the mark-to-market of minority investments and our tax rate to be around 17%.”
Source: Transcript of Apple's Q4 FY26 earnings call, published by The Motley Fool, Nov 2, 2026. This is a third-party transcript of the call, not one published by Apple.
This is the company's own guidance as of Nov 2, 2026, quoted as given. Walnut does not make forecasts of its own. Analyst estimates for the coming quarters are on the AAPL forecast page.
When does AAPL report earnings next?
Apple's next report is expected around January 28, 2027, a date estimated from its reporting history that the company has not yet confirmed. This page will show Q4 fiscal 2026 until those results are out and have been checked against the release.
Past Apple quarterly reports
Each quarter keeps its own page with the figures as reported, so a link to one stays pointed at the same numbers after the next report.
- Q4 fiscal 2026 (this page), reported Nov 2, 2026
What Apple's revenue is made of
Apple reports net sales in five categories: iPhone, Mac, iPad, Wearables, Home and Accessories, and Services. In Q4 fiscal 2026 iPhone brought in $57,583 million of the $114,477 million total and Services $31,573 million. (Apple Q4 FY26 release, Nov 2, 2026)
Services covers advertising (third-party licensing and Apple's own ad platforms), AppleCare, cloud services, digital content such as the App Store and subscriptions including Apple Music and Apple TV, and payment services including Apple Card and Apple Pay. (Apple Form 10-K, fiscal 2026, Nov 3, 2026)
Products and Services earn different margins. For fiscal 2026 Apple's gross margin percentage was 39.3% on products and 76.2% on Services. Apple said the products margin rose on product mix and tariff refunds, partly offset by higher costs including memory. (Apple Form 10-K, fiscal 2026, Nov 3, 2026)
Apple's reportable segments are geographic: Americas, Europe, Greater China, Japan and Rest of Asia Pacific. Greater China net sales were $17,539 million in Q4 fiscal 2026, against $14,493 million a year earlier; for the full year Apple attributed the increase there mainly to iPhone and Mac. (Apple Q4 FY26 release, Nov 2, 2026; Apple Form 10-K, fiscal 2026, Nov 3, 2026)
What Apple's EPS includes
Apple reports one EPS figure, on a GAAP basis, with no adjusted measure. Q4 fiscal 2026 diluted EPS of $2.10 included a favorable impact of $0.05 from tariff refunds, by Apple's own count. (Apple Q4 FY26 release, Nov 2, 2026)
Buybacks have reduced Apple's share count. Diluted shares were 14,630,318 thousand in Q4 fiscal 2026, against 14,863,609 thousand a year earlier. During fiscal 2026 Apple repurchased 297 million shares for $85.8 billion, and in April 2026 it announced a new repurchase program of up to $100 billion. Share-based compensation expense was $13,789 million for the year. (Apple Q4 FY26 release, Nov 2, 2026; Apple Form 10-K, fiscal 2026, Nov 3, 2026)
Diluted EPS divides net income by the weighted average number of shares outstanding in the quarter, plus the shares that options and other equity awards could add. Buybacks shrink that count and lift EPS for the same profit; share issuance and stock awards enlarge it.
Consensus and guidance at Apple
Apple gives its outlook on the earnings call, not in the release. For the December quarter its CFO gave ranges for total revenue growth (7% to 10%), Services revenue growth (8% to 9%), gross margin (45% to 46%) and operating expenses ($20.4 billion to $20.8 billion), plus other income and a tax rate of around 17%. (Transcript of Apple's Q4 FY26 earnings call, published by The Motley Fool, Nov 2, 2026)
Before the report, on November 2, 2026, the Yahoo Finance consensus for Q4 fiscal 2026 was EPS of $1.99 (28 analysts) and revenue of $113,350 million (25 analysts). Apple reported $2.10 and $114,477 million. (Yahoo Finance consensus, Nov 2, 2026; Apple Q4 FY26 release, Nov 2, 2026)
A consensus figure is the average of the models published by the analysts who cover Apple, collected by a data provider and revised up to the day of the report. A quarter that lands above it says how expectations were set as much as how the business did, and the share price on the day also reflects the guidance and the lines no consensus covers.
The consensus figures on this page are Yahoo Finance's, as pulled on the date shown. Each comes with the number of analysts behind it; the smaller that number, the more one revised estimate can move the average.
The numbers analysts watch at Apple
The figures below are the ones Apple's own release and filings put weight on for Q4 fiscal 2026, with the latest reported value for each.
| Metric | Latest reported |
|---|---|
| iPhone net sales | $57,583 million, up 17% from $49,025 million Apple Q4 FY26 release, Nov 2, 2026 |
| Services net sales | $31,573 million, up 10% from $28,750 million Fiscal 2026 Services gross margin percentage: 76.2% Apple Q4 FY26 release, Nov 2, 2026; Apple Form 10-K, fiscal 2026, Nov 3, 2026 |
| Greater China net sales | $17,539 million, up 21% from $14,493 million Apple Q4 FY26 release, Nov 2, 2026 |
| Company gross margin | 47.9% Including a favorable impact of about 1 percentage point from tariff refunds Apple Q4 FY26 release, Nov 2, 2026 |
| Mac net sales | $10,792 million, up 24% from $8,726 million Apple Q4 FY26 release, Nov 2, 2026 |
What the quarter means for a holding is a separate question from what it reported. The case for and against owning AAPL is on is AAPL a buy or a sell?, what analysts expect next is on the AAPL forecast, and what the company does is on the Apple Inc. (AAPL) stock page.
How to check AAPL's figures yourself
Every number on this page can be traced to a document Apple published. Checking one takes a couple of minutes, and it is worth doing before you quote a figure anywhere.
- The results release is the document linked in the source line above. Companies publish it on their investor relations site at the moment results go out, and it carries the headline tables: revenue, operating income, net income and EPS for the quarter and the year-ago quarter.
- The same release is filed with the SEC as Exhibit 99.1 to a Form 8-K under Item 2.02, usually on the day of the report. The SEC copy does not change after the fact, which makes it the safer thing to link when you cite a number.
- The quarterly report (Form 10-Q) follows within a few weeks and carries the full financial statements, the segment note and management's discussion of what changed. The fourth quarter is covered by the annual report (Form 10-K) instead.
- Restated comparisons are flagged in the notes on this page. When a company redraws its segments or changes how it adjusts EPS, it restates the year-ago column, so the year-ago figure in a new release can differ from the one printed a year ago. This page always uses the comparison in the newer release, because that is the like-for-like one.
A walk-through of every line in a release, with what each one tells you, is in how to read an earnings report.
Your questions about Apple
Ask Walnut's AI anything about AAPL and see how it fits what you own.
FAQ
What was Apple's revenue last quarter?
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Apple reported revenue of $114,477 million for Q4 fiscal 2026, the quarter ended September 26, 2026, against $102,466 million in Q4 fiscal 2025 (up 12%). The figures come from Apple's results release of November 2, 2026.
Did Apple beat earnings estimates for Q4 fiscal 2026?
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On the consensus Yahoo Finance showed before the report (pulled November 2, 2026), revenue of $114,477 million was above the $113,350 million consensus, and Revenue of $114,477 million was above the $113,350 million consensus. A consensus is an average of analyst models, so a result above or below it says how expectations were set as much as how the quarter went.
What guidance did Apple give for the December quarter (Q1 fiscal 2027)?
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Apple's results release contains no outlook. Its CFO gives one on the earnings call. On the Q4 fiscal 2026 earnings call, Kevan Parekh, CFO said: "We expect our December quarter total company revenue to grow between 7% and 10% year-over-year, which reflects our best view of constrained supply. We expect services revenue to grow between 8% and 9% year-over-year in the December quarter. We expect gross margin to be between 45% and 46%. This includes primarily the impact of higher memory costs as well as some costs related to the ramp of Siri AI. We expect operating expenses to be between $20.4 billion and $20.8 billion. We expect OI&E to be around $300 million, excluding any potential impact from the mark-to-market of minority investments and our tax rate to be around 17%." That is the company's own outlook as of Nov 2, 2026, and companies revise outlooks as the quarter goes on.
When does AAPL report earnings next?
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Apple's next report is expected around January 28, 2027, a date estimated from its reporting history that the company has not confirmed. This page carries Q4 fiscal 2026 until those results are out and checked against the release.
Where does Apple's revenue come from?
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Apple's iPhone revenue was $57.6 billion in Q4 fiscal 2026, up 17% from $49.0 billion in Q4 fiscal 2025, 50% of total revenue. Apple's Mac revenue was $10.8 billion in Q4 fiscal 2026, up 24% from $8.7 billion in Q4 fiscal 2025, 9% of total revenue. Apple's iPad revenue was $6.2 billion in Q4 fiscal 2026, down 10% from $7.0 billion in Q4 fiscal 2025, 5% of total revenue. Apple's Wearables, Home and Accessories revenue was $8.3 billion in Q4 fiscal 2026, down 8% from $9.0 billion in Q4 fiscal 2025, 7% of total revenue. Apple's Services revenue was $31.6 billion in Q4 fiscal 2026, up 10% from $28.8 billion in Q4 fiscal 2025, 28% of total revenue. These are the lines of Apple's own "net sales by category" table for Q4 fiscal 2026.
How much did Apple's revenue grow last quarter?
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Up 12% on the year: $114,477 million in Q4 fiscal 2026 against $102,466 million in Q4 fiscal 2025. That is the year-over-year comparison, the same quarter a year apart, so seasonal patterns in Apple's business do not distort it.
Why is Apple's quarter called Q4 fiscal 2026?
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Apple's fiscal year does not follow the calendar year, so Q4 fiscal 2026 is the quarter that ended September 26, 2026. When you compare AAPL with a company that reports on the calendar year, line quarters up by the date they ended, not by their names.
Where do the AAPL numbers on this page come from?
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From Apple's own results release and its Form 8-K, Exhibit 99.1, copied as printed, in millions of US dollars. Percent changes are worked out from those figures and rounded to a whole percent, which matches how the release states them. Nothing on this page is an estimate except the consensus, which is labelled with its source and date.
Walnut is informational, not investment advice. Reported figures are copied from Apple's results release and filings; consensus figures, where shown, are third-party estimates captured before the report. Verify figures against the source before relying on them.
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