Apple reported fiscal fourth-quarter revenue of $114.48 billion and earnings of $2.10 per share Monday, beating Wall Street expectations as sales of its latest iPhones drove the quarter.
Analysts surveyed by LSEG had expected revenue of $113.39 billion and earnings of $1.99 per share, Reuters reported. Apple’s iPhone business generated $57.58 billion in sales, helped by early demand for the iPhone 18 Pro.
The company posted a gross margin of 47.9%, also above forecasts. Price increases on some iPhone and Mac models helped offset rising costs for memory chips, a pressure facing electronics makers across the industry.
Mac revenue came in ahead of expectations, while Apple’s services business was approximately in line with forecasts. Sales of iPads and wearable devices missed analysts’ estimates.
Apple shares moved lower in volatile after-hours trading despite the earnings beat. The reaction reflected the market’s focus on forward demand, product supply and component costs rather than the completed quarter alone.
The report was Apple’s first fiscal fourth-quarter result under Chief Executive John Ternus. The company has been adjusting its product-release schedule, spreading more launches across the calendar instead of concentrating them in a single seasonal window.
Apple’s first foldable phone, the iPhone Duo, sold out quickly but remained supply-constrained. Ternus said a small share of units had been returned because of display problems and were being replaced. The company did not provide a date for supply to catch up with demand.
The results also showed Apple continuing to expand its product lineup, including touchscreen laptops and a smart-home hub, while its updated Siri service handled billions of requests daily.
Sources: - Reuters, “Apple Results Beat Wall Street Expectations on Strong iPhone Sales,” Nov. 2, 2026 - MarketWatch, “Apple’s Stock Falls Even as Earnings Beat Expectations,” Nov. 2, 2026