Apple Earnings: a Record $114.5 Billion Quarter, an iPhone Record and a Services High in the First Report Under a New CEO
The biggest name on Wall Street's calendar delivered after the bell Monday: revenue of $114.48 billion, up 12 percent, earnings of $2.10 a share against the $1.98 analysts expected, and a fiscal year that closed at a record $479 billion.
Apple reported the strongest September quarter in its history after Monday's closing bell, posting revenue of $114.48 billion, up 12 percent from a year ago, and net profit of $30.71 billion in the first earnings report under its new chief executive, John Ternus, who succeeded Tim Cook after Cook's 15-year tenure.
The engines were the company's two biggest lines. iPhone revenue reached $57.58 billion, ahead of the $56.54 billion analysts had forecast and a September-quarter record, while Services — the subscriptions and fees business — set an all-time high at $31.57 billion. Mac revenue set a record of its own at $10.79 billion, up 24 percent, and earnings per share came in at $2.10 against the $1.98 consensus, a figure Zacks noted was bolstered by a one-time tariff refund worth about five cents a share.
Ternus called the quarter a September-quarter revenue record that capped off the company's best fiscal year ever, pointing to the new iPhone Duo and iPhone 18 Pro line as the company closes the year with what he called its most ambitious lineup yet. Chief Financial Officer Kevan Parekh said the quarter produced September-quarter records for net income and earnings per share, full-year revenue of $479 billion, and $28 billion of operating cash flow, all of which the company returned to shareholders.
The report was the one Monday's mixed close had been waiting for. Apple's shares had fallen about 1.5 percent in regular trading as technology stocks sold off for a third straight day, and the print gave the market the steadier story the closing file lacked: a company not in the artificial-intelligence building race — its capital spending was a light $2.24 billion against $3.33 billion expected — still growing its hardware records. The same closing bell brought a beat from Palantir, which reported earnings of 44 cents a share against 41 cents expected on revenue of $2.31 billion, well ahead of the $2.17 billion forecast, and raised its free-cash-flow estimate, according to Schwab Network's closing coverage.
What investors listen for next is the holiday quarter. Apple heads into December with its new phone lineup just released and Services at a record, and its guidance on the earnings call — for fiscal 2027 and the December quarter — is the number that will travel into Tuesday's session, when the market also gets the midterm results.
