Apple Reports 3Q 2026 Results: $29.8B Profit on $109.4B Revenue
4 hours ago
- Apple reported June quarter records for total revenue ($109.4B) and EPS ($2.02), with revenue up 16% year-over-year.
- iPhone revenue grew 22% to $54.3B; Mac revenue up 29% to $10.4B; Services up 12% to $30.7B; iPad down 6% to $6.2B.
- Gross margin was 50.1%, including a 2% benefit from tariff refunds; operating cash flow hit a June quarter record of $34.4B.
- Apple Intelligence and new Siri AI were highlighted as key innovations; public beta feedback has been positive.
- Supply constraints on advanced SOC nodes are expected to significantly impact iPhone, Mac, and iPad in the September quarter.
- September quarter revenue guidance is 9-11% growth; gross margin guided at 47-48% with FX headwinds.
- CEO Tim Cook will retire; incoming CEO John Ternus joined the earnings call; Cook expressed confidence in the future.
- Memory costs are rising, impacting margins; Apple is evaluating additional supply sources.
- Services growth decelerated due to FX, mobile gaming softness, and regulatory changes; paid subscriptions exceeded 1.5 billion.
- Apple Upgrade program launched in the US; early feedback positive; aims to shorten upgrade cycles.