Apple posts record revenue as John Ternus begins CEO role

Summarised from 3 outlets · 4 reports · Updated 2 Nov, 23:38 · Archive

Apple reported quarterly revenue of $114.5 billion and profit of $30.7 billion, exceeding analyst expectations in the quarter new CEO John Ternus took over.

Apple reported fourth-quarter fiscal 2026 results on strong performance across its product line and services. Revenue reached $114.5 billion, up 12 per cent from $102.5 billion in the same quarter a year earlier. Net quarterly profit was $30.7 billion, or $2.10 per diluted share, compared to $27.5 billion, or $1.85 per diluted share, in the year-ago quarter. Analysts had expected revenue of $113.4 billion and earnings of $1.99 per share.

The quarter included August and September product releases and marked the start of John Ternus's tenure as CEO, succeeding Tim Cook on 1 September. Ternus said the company was closing the year with its 'most ambitious lineup yet', including the iPhone Duo, which he called 'the most transformational iPhone since the original', alongside iPhone 18 Pro and iPhone 18 Pro Max. Gross margin improved to 47.9 per cent from 47.2 per cent in the prior year.

The Guardian reported that the strong earnings bucked a downward trend for technology companies, as rivals including Alphabet, Amazon and Intel posted disappointing results. Apple's 'tepid approach' to artificial intelligence spending, compared to its larger investments by other tech giants, helped preserve cash flow, according to analyst Jacob Bourne. For the full fiscal year, Apple recorded $478.8 billion in sales and $132.2 billion in net income, both company records.

How it is being reported

• Apple's Q4 2026 Earnings Call TakeawaysApple held its earnings call for the fourth fiscal quarter of 2026 today, and it was Apple CEO John Ternus' first earnings call in his new role. He had Apple CFO Kevan Parekh on hand, and he brought in Chief Operating Officer Sabih Khan. The trio covered iPhone Duo sales, Siri AI, and increasing memory costs, among other topics. iPhone Duo After the earnings release, Ternus told Reuters that Apple isn't able to meet demand for the iPhone Duo, and there's no word on when supply/demand balance will be reached. Ternus also acknowledged display issues and said a "very small percentage" of units…MacRumors · 3 Nov, 00:27
• Apple beats revenue expectations in first earnings report under new CEO John TernusApple’s new CEO John Ternus appears to have passed an early test since facing sky-high expectations upon taking over the tech giant from longtime leader Tim Cook in September.New York Post · 3 Nov, 00:03
• Apple posts stronger-than-expected revenue in first earnings report for new CEO John TernusResult for the company, which earned $30.71bn and exceeded analysts’ expectations, bucked downward trend for tech firms Apple Inc posted stronger-than-expected revenue in the fiscal third quarter, giving John Ternus, the new CEO, an upbeat start to his tenure, which began in September. The solid results bucked a downward trend for tech giants this quarter, as companies including Alphabet, Amazon and Intel had disappointing quarterly results. “Apple’s strong earnings come in the wake of a recent tech sell-off, as investors question the enormous cost and uncertain returns of the AI boom driven…The Guardian · 2 Nov, 23:07
• Apple Reports 4Q 2026 Results: $30.7B Profit on $114.5B RevenueApple today announced financial results for the fourth fiscal quarter of 2026, which corresponds to the third calendar quarter of the year. The quarter included a number of August and September product releases from Apple, as well as the CEO transition from Tim Cook to John Ternus that took place on September 1. For the quarter, Apple posted revenue of $114.5 billion and net quarterly profit of $30.7 billion, or $2.10 per diluted share, compared to revenue of $102.5 billion and net quarterly profit of $27.5 billion, or $1.85 per diluted share, in the year-ago quarter . Gross margin for the…MacRumors · 2 Nov, 21:38

In this story: Apple · John Ternus · Tim Cook · Cupertino · Alphabet · Amazon · Intel

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