Apple Inc. (AAPL) announced its third-quarter fiscal 2026 earnings, reporting a profit of $2.02 per share, a 28.7% increase year-over-year. Adjusted earnings were $1.91 per share, exceeding the Zacks Consensus Estimate by 1.6%. Net sales reached $109.42 billion, marking a 16.4% year-over-year increase and surpassing expectations by 0.6%. Apple’s active device base exceeded 2.5 billion, setting an all-time high across major product categories and regions.
Product sales rose 18.1% to $78.68 billion, with iPhone sales leading the growth at $54.25 billion (up 21.7%). Services revenues grew 12.1% year-over-year to $30.74 billion, contributing 28.1% of total sales. Despite a 5.9% decline in iPad sales to $6.19 billion, Apple achieved record sales in other categories, particularly in the Americas and Europe, where revenues surged by 11.1% and 22.4% respectively.
Apple’s gross margin improved by 360 basis points to 50.1%, aided by tariff refunds. Operating expenses rose 22.9% to $19.08 billion. The company ended the quarter with $147 billion in cash and marketable securities and returned $33 billion to shareholders, including a $0.27 per share dividend. For the upcoming quarter, Apple projects a revenue increase of 9-11%, while also anticipating intensified supply constraints across its product lines.
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