OpenNashEarnings

Apple (AAPL) · Consumer Technology

Apple Q3 FY2026 earnings: summary, key numbers & outlook

Results filed 30 Jul 2026 · Quarter ended 27 Jun 2026

Press release ↗Investor relations ↗

Summaries and transcripts are machine-generated and can contain errors.

In brief

Apple reported fiscal third quarter revenue of $109.4 billion, up 16 percent year over year, with diluted earnings per share of $2.02, up 29 percent.

Apple posted its strongest June quarter ever. Revenue was $109.4 billion, up 16 percent from a year ago, with double-digit growth in iPhone, Mac and Services and in every geographic segment. Diluted earnings per share were $2.02, up 29 percent. Gross margin was 50.1 percent, which included a favorable impact of about 2 percentage points from tariff refunds. The board declared a dividend of $0.27 per share.

The release gives no revenue, margin or spending outlook for the next quarter, and no call transcript was provided. The main tension is quality of earnings. Tariff refunds added about 2 percentage points to gross margin and $0.11 to EPS, so those gains may not repeat. Research and development spending also rose to $11,729 million from $8,866 million a year earlier, and inventories roughly doubled to $11,092 million from $5,718 million at the end of the last fiscal year.

Key numbers

Total net sales · GAAP
$109.4 billion

up 16 percent year over year

Gross margin percentage · GAAP
50.1 percent

Diluted earnings per share · GAAP
$2.02

up 29 percent year over year

Net income (three months, $ millions) · GAAP
$29.8B

Operating income (three months, $ millions) · GAAP
$35.7B

Cash generated by operating activities (nine months, $ millions) · GAAP
$117.0B

Segment or metricValueChange
iPhone net sales$54,252vs $44,582 a year ago
Mac net sales10,352vs 8,046 a year ago
iPad net sales6,191vs 6,581 a year ago
Wearables, Home and Accessories net sales7,883vs 7,404 a year ago
Services net sales30,739vs 27,423 a year ago
Americas net sales$45,781vs $41,198 a year ago
Europe net sales29,395vs 24,014 a year ago
Greater China net sales18,816vs 15,369 a year ago
Where each number comes from
  • Total net sales: “The Company posted quarterly revenue of $109.4 billion, up 16 percent year over year. Company gross margin was 50.1 percent, including a favorable impact of approximately 2 percentage points”
  • Gross margin percentage: “Company gross margin was 50.1 percent, including a favorable impact of approximately 2 percentage points from tariff refunds.”
  • Diluted earnings per share: “Diluted earnings per share was $2.02, up 29 percent year over year, and included a favorable impact of $0.11 from tariff refunds.”
  • Net income (three months, $ millions): “Provision for income taxes | 6,478 | 4,597 | 21,638 | 15,381 Net income | $29,789 | $23,434 | $101,464 | $84,544 Earnings per share:”
  • Operating income (three months, $ millions): “Total operating expenses | 19,075 | 15,516 | 56,350 | 46,237 Operating income | 35,695 | 28,202 | 122,432 | 100,623 Other income/(expense), net”
  • Cash generated by operating activities (nine months, $ millions): “Other current and non-current liabilities | 10,016 | (15,161) Cash generated by operating activities | 116,996 | 81,754 Investing activities: Purchases of marketable securities”
  • iPhone net sales: “(1) Net sales by category: iPhone | $54,252 | $44,582 | $196,515 | $160,561 Mac | 10,352 | 8,046 | 27,137 | 24,982”
  • Mac net sales: “iPhone | $54,252 | $44,582 | $196,515 | $160,561 Mac | 10,352 | 8,046 | 27,137 | 24,982 iPad | 6,191 | 6,581”
  • iPad net sales: “Mac | 10,352 | 8,046 | 27,137 | 24,982 iPad | 6,191 | 6,581 | 21,700 | 21,071 Wearables, Home and Accessories | 7,883 | 7,404”
  • Wearables, Home and Accessories net sales: “iPad | 6,191 | 6,581 | 21,700 | 21,071 Wearables, Home and Accessories | 7,883 | 7,404 | 27,277 | 26,673 Services | 30,739”
  • Services net sales: “Wearables, Home and Accessories | 7,883 | 7,404 | 27,277 | 26,673 Services | 30,739 | 27,423 | 91,728 | 80,408 Total net sales”
  • Americas net sales: “(1) Net sales by reportable segment: Americas | $45,781 | $41,198 | $149,403 | $134,161 Europe | 29,395 | 24,014 | 95,596 | 82,329”
  • Europe net sales: “Americas | $45,781 | $41,198 | $149,403 | $134,161 Europe | 29,395 | 24,014 | 95,596 | 82,329 Greater China | 18,816 | 15,369”
  • Greater China net sales: “Europe | 29,395 | 24,014 | 95,596 | 82,329 Greater China | 18,816 | 15,369 | 64,839 | 49,884 Japan | 6,554 | 5,782”

Copied from the press release ↗ and other documents in the SEC filing ↗. A figure is published only if its sentence is in the filing.

From the filingQ3 FY2026vs year agovs last quarter
Revenue$109.4B+16.4%−1.6%
Operating income$35.7B+26.6%−0.5%
Net income$29.8B+27.1%+0.7%
Diluted EPS$2.02+28.7%+0.5%
Free cash flow$31.9B+30.8%+19.4%
Gross margin50.1%+3.6 pts+0.8 pts
Operating margin32.6%+2.6 pts+0.3 pts

Calculated by code from XBRL, not by the model.

Key takeaways

  1. Record June quarter for revenue and EPS

    Revenue was $109.4 billion, up 16 percent year over year, and diluted EPS was $2.02, up 29 percent. iPhone, Mac and Services set June quarter records.

  2. Tariff refunds flattered margin and EPS

    Gross margin of 50.1 percent included a favorable impact of approximately 2 percentage points from tariff refunds. Diluted EPS included a favorable $0.11 from the refunds.

  3. Growth came from every geographic segment

    Greater China net sales were $18,816 million versus $15,369 million a year earlier, and Europe was $29,395 million versus $24,014 million. Americas reached $45,781 million.

  4. Research and development spending jumped sharply

    R&D was $11,729 million in the quarter versus $8,866 million a year earlier. Apple highlighted the all-new Siri AI introduced at WWDC26.

  5. Cash returns continue alongside rising inventories

    Apple repurchased $62,094 million of stock in nine months and declared a $0.27 per share dividend. Inventories rose to $11,092 million from $5,718 million at September 27, 2025.

Charts

Revenue$109.4B+16.4% y/yQ3 FY26
Q1 FY25: $124.3BQ1 25$124.3BQ2 FY25: $95.4BQ2 25$95.4BQ3 FY25: $94.0BQ3 25$94.0BQ4 FY25: $102.5B (worked out from the annual figure)Q4 25$102.5BQ1 FY26: $143.8BQ1 26$143.8BQ2 FY26: $111.2BQ2 26$111.2BQ3 FY26: $109.4BQ3 26$109.4BQ4 FY26: $114.5B (worked out from the annual figure)Q4 26$114.5B

Fourth quarter worked out from the annual figure.

Data
Q1 FY25$124.3B
Q2 FY25$95.4B
Q3 FY25$94.0B
Q4 FY25$102.5B *
Q1 FY26$143.8B
Q2 FY26$111.2B
Q3 FY26$109.4B
Q4 FY26$114.5B *
Diluted EPS (GAAP)$2.02+28.7% y/yQ3 FY26
Q1 FY25: $2.40Q1 25$2.40Q2 FY25: $1.65Q2 25$1.65Q3 FY25: $1.57Q3 25$1.57Q1 FY26: $2.84Q1 26$2.84Q2 FY26: $2.01Q2 26$2.01Q3 FY26: $2.02Q3 26$2.02
Data
Q1 FY25$2.40
Q2 FY25$1.65
Q3 FY25$1.57
Q1 FY26$2.84
Q2 FY26$2.01
Q3 FY26$2.02

Fourth-quarter EPS appears once the press release is read; filings report it only for the full year.

Operating margin32.6%+2.6 pts y/yQ3 FY26
Q1 FY25: 34.5%Q1 2534.5%Q2 FY25: 31.0%Q2 2531.0%Q3 FY25: 30.0%Q3 2530.0%Q4 FY25: 31.6%Q4 2531.6%Q1 FY26: 35.4%Q1 2635.4%Q2 FY26: 32.3%Q2 2632.3%Q3 FY26: 32.6%Q3 2632.6%Q4 FY26: 31.1%Q4 2631.1%
Data
Q1 FY2534.5%
Q2 FY2531.0%
Q3 FY2530.0%
Q4 FY2531.6%
Q1 FY2635.4%
Q2 FY2632.3%
Q3 FY2632.6%
Q4 FY2631.1%
Free cash flow$31.9B+30.8% y/yQ3 FY26
Q1 FY25: $27.0BQ1 25$27.0BQ2 FY25: $20.9BQ2 25$20.9BQ3 FY25: $24.4BQ3 25$24.4BQ4 FY25: $26.5BQ4 25$26.5BQ1 FY26: $51.6BQ1 26$51.6BQ2 FY26: $26.7BQ2 26$26.7BQ3 FY26: $31.9BQ3 26$31.9BQ4 FY26: $25.9BQ4 26$25.9B
Data
Q1 FY25$27.0B
Q2 FY25$20.9B
Q3 FY25$24.4B
Q4 FY25$26.5B
Q1 FY26$51.6B
Q2 FY26$26.7B
Q3 FY26$31.9B
Q4 FY26$25.9B

Operating cash flow minus capital expenditure, from cash flow statements.

Questions

What were Apple's results for the June 2026 quarter?

Apple reported revenue of $109.4 billion, up 16 percent year over year, and diluted EPS of $2.02, up 29 percent. Gross margin was 50.1 percent.

How much did tariff refunds help Apple's results?

Tariff refunds added approximately 2 percentage points to gross margin and $0.11 to diluted EPS.

Which products and regions drove growth?

iPhone net sales were $54,252 million, Mac $10,352 million and Services $30,739 million, with double-digit growth in all three. Every geographic segment also grew, including Greater China at $18,816 million.

Did Apple give guidance for next quarter?

No. The release contains no forward-looking revenue, margin or spending figures, and no call transcript was provided.

What is Apple's dividend?

The board declared a cash dividend of $0.27 per share, payable on August 13, 2026 to shareholders of record as of August 10, 2026.

Documents

From Apple investor relations

SEC filing