Apple Results Live: Apple Beats Q4 Estimates on Strong iPhone Sales, But Misses China Revenue

By /

Apple (AAPL) reported its fourth-quarter results after the bell on Monday, beating revenue and earnings expectations due to strong iPhone sales.

This is Apple’s first earnings conference call with new CEO John Ternus, who took over from Tim Cook on September 1.

For the quarter, Apple reported earnings per share (EPS) of $2.10 on revenue of $114.48 billion. Wall Street was hoping for EPS of $2 on revenue of $113.46 billion, according to consensus estimates from Bloomberg analysts.

The company reported EPS of $1.85 and revenue of $102.46 billion during the same period last year. Greater China’s revenue was lower than forecast, coming in at $17.54 billion versus an estimated $18.75 billion. Apple’s iPhone sales came in at $57.58 billion, compared to an estimate of $56.48 billion.

Services, the company’s second-largest segment, reported revenue of $31.57 billion, compared to a forecast of $31.58 billion. Apple’s Mac business brought in $10.79 billion. Analysts expected $9.69 billion.

Wearables and iPad generated $8.3 billion and $6.23 billion.

Apple stock fell 4% before the bell on Tuesday.

338.32 -6.31 (-1.83%)

Closing: November 2 at 4:00:01 p.m. EST

324.37 -13.95 (-4.12%)

Pre-release: 7:39:24 a.m. EST

LIVE COVERAGE IS COMPLETED 32 updates

  • Daniel Howley

    Mac and iPad supply will be limited during the December quarter

    Apple says it expects supply constraints on Macs and iPads in the December quarter, due to memory, due to higher demand than the company expected.

  • Daniel Howley

    Apple satisfied with performance in Greater China

    Apple says it has seen strong sales in Greater China from the iPhone and Mac.

    Mac revenues saw strong double-digit growth, and Greater China revenues grew 28% year-over-year.

    Still, September quarter revenue fell short of Wall Street’s expectations.

  • Daniel Howley

    Apple’s purchasing obligations increase to meet the price of memory

    Khan says Apple increased its purchase obligations to improve memory supply by $33 billion between the June quarter and the September quarter.

  • Daniel Howley

    Apple can’t say when iPhone Duos supply will catch up with demand

    COO Sabih Khan says it’s difficult to predict when supply and demand for the iPhone Duo will be in balance.

    He added that Apple is seeing supply constraints for the iPhone, Mac and iPad, related to the availability of its advanced processing nodes.

    A large queue forms outside the Apple store in Covent Garden, London, as people queue to buy the two new iPhones. (Photo by John Stillwell/PA Images via Getty Images) · John Stillwell – PA Images via Getty Images
  • Daniel Howley

    Ternus says memory price is ‘unprecedented’

    Apple CEO John Ternus highlighted the massive increase in the price of memory due to the development of AI.

    “What we’re seeing right now with the price of memory is unprecedented,” he told investors.

    The company reported higher memory costs in the September quarter compared to the June quarter, but benefited from carryover inventory and some non-memory components.

    For the December quarter, Ternus expects even higher memory costs, partly offset by product prices, as well as early December inventory.

    Beyond December, the company notes that memory prices will continue to rise and profits from carryover inventory will decline.

  • Daniel Howley

    Ternus on AI agents and Apple’s position

    Ternus says AI agents are promising tools for users, but that Apple wants to make sure they know what they’re giving them access to when they use them.

    “We want to make sure this is done in a way that protects security and privacy.”

  • Daniel Howley

    Apple COO Sabih Khan joins the call

    Apple CEO John Ternus said he asked COO Sabih Khan to join the company’s earnings call to help answer investors’ questions.

  • Daniel Howley

    Apple Chief Financial Officer Kevan Parekh said he expects total revenue for the December quarter to increase between 7% and 10% year over year and expects it to be the company’s best quarter ever.

    Services revenue will increase between 8% and 9%, with challenges related to third-party licensing and exchange rates.

    Gross margin will be between 45% and 46%, primarily due to higher memory costs associated with the rise of Siri AI.

    Operating expenses are expected to be between $20.4 billion and $20.8 billion.

  • Daniel Howley

    Apple’s cash position

    Chief Financial Officer Kevan Parekh said Apple ended the quarter with $137 billion in cash and marketable securities and $80 billion in total debt.

  • Daniel Howley

    Installed base of wearables and iPad reaches new all-time highs

    CFO Kevan Parekh explained that Apple’s wearable and iPad installed bases have reached unprecedented heights, driven by new devices in each category.

    A team holding the Apple Watch Series 12 is seen during iPhone launch day at the Apple Fifth Avenue store in New York on September 18, 2026, for the launch of the iPhone 18 Pro and iPhone 18 Pro Max. (Photo by TIMOTHY A. CLARY / AFP via Getty Images) · TIMOTHY A. CLARY via Getty Images
  • Daniel Howley

    CFO Kevan Parekh talks memory pricing and pricing benefits

    Apple Chief Financial Officer Kevan Parekh said that without duty refunds, company and product gross margins would have been 1% lower sequentially due to higher memory costs.

    Since the September quarter, Apple has received the majority of refunds related to previously paid rates.

  • Daniel Howley

    Ternus points the finger at the American manufacturing industry

    Ternus said Apple now supports more than 450,000 American jobs through thousands of suppliers across 50 states.

    Quality control employees watch lengths of glass move down the line during a tour of Corning’s iPhone glass manufacturing plant Friday, September 12, 2025, in Harrodsburg, Kentucky. (AP Photo/Jon Cherry) · ASSOCIATED PRESS
  • Daniel Howley

    Ternus applauds Apple TV+ Emmy wins

    Apple’s Ternus said the Emmys were a night to remember for the company, with its shows winning more awards than any other network.

    He also shouted out “Widows Bay,” which was the most awarded comedy of all time in a single year.

    Katie Dippold wins the award for Outstanding Writing for a Comedy Series for “Widows Bay” at the 78th Emmy Awards held at the Peacock Theater on September 14, 2026 in Los Angeles, California. (Photo by Gilbert Flores/Variety via Getty Images) · Gilbert Florès via Getty Images
  • Daniel Howley

    Ternus says Macs sold well throughout fiscal 2026

    According to CEO John Ternus, Apple sold more Macs in fiscal 2026 than in any other year. Apple also set a record for new Mac customers in the September quarter.

    LOS ANGELES, CALIFORNIA – OCTOBER 28: The new touchscreen MacBook Pro is demonstrated during Apple’s “Pro and Tell” event on October 28, 2026 in Los Angeles, California. Apple CEO John Ternus revealed the new MacBook Pro with PROLED XDR display, the first-ever touchscreen Macbook, at the event amid a flurry of new products ahead of the 2026 holiday shopping season. (Photo by Mario Tama/Getty Images) · Mario Tama via Getty Images
  • Daniel Howley

    Recovery plants are developing

    Apple set a September quarter record for upgrades worldwide, including in the United States and China.

    Customers line up to buy Apple’s new iPhone Duo foldable phone on launch day at the Apple Store in Austin, Texas, U.S., October 23, 2026. REUTERS/Jan Sonnenmair · REUTERS/REUTERS
  • Yahoo Finance

    Wall Street ‘Very Concerned’ About Apple’s Next Quarter: DA Davidson’s Gil Luria

    Gil Luria, head of technology research at DA Davidson, comments on Apple’s results.

  • Daniel Howley

    Apple’s huge installed base

    CEO John Ternus says Apple now has an installed base of more than 2.5 billion active devices worldwide.

  • Daniel Howley

    Apple closed its biggest education deal

    Ternus said Apple signed its largest education deal to date, bringing 170,000 MacBook Neos to teachers and students in the Philippines.

    “Opportunities like this attract more users to our ecosystem and help fuel our business growth.”

    Apple’s new entry-level Mac laptop, the MacBook Neo, is displayed during an event in New York, U.S. March 4, 2026. REUTERS/Shannon Stapleton · REUTERS/REUTERS
  • Daniel Howley

    Ternus touts its new products

    Apple CEO John Ternus said the company just completed one of the most prolific launch periods in its history, including the iPhone Duo, iPhone 18 Pro and Pro Max, AirPods 5, new Apple Watches and HomeView.

    It also made use of Apple’s Siri AI. “I feel good about the opportunities that lie ahead for Apple.”

    FILE PHOTO: Apple’s new CEO John Ternus holds the new foldable iPhone Duo during Apple’s event at the Steve Jobs Theater in Cupertino, California, U.S., September 9, 2026. REUTERS/Carlos Barria/File Photo · Reuters / REUTERS
  • Daniel Howley

    Apple had its best year yet

    “Apple delivered a record September quarter for net income and EPS. Our record September quarter capped off a strong fiscal 2026, with record revenue of $479 billion and double-digit EPS growth,” Chief Financial Officer Kevan Parekh said in a statement.

Gn headline

Related Posts

Scroll to Top