Key Points
Apple Inc. (NASDAQ: AAPL) reported a revenue increase of 16% to $109.42 billion for its fiscal third quarter, ending June 27, 2026. This growth was driven by a 22% year-over-year rise in iPhone revenue, totaling $54.3 billion, surpassing analyst expectations of $53.86 billion. However, services revenue rose only 12% to $30.74 billion, below the expected $31.22 billion, impacted by currency headwinds.
Mac sales surged 29% to $10.4 billion, exceeding the $8.74 billion forecast, while total product segment sales reached $78.7 billion. Notably, China revenue increased by 22% to $18.82 billion, falling short of the $19.58 billion expected. In terms of earnings, Apple posted a 29% rise in earnings per share (EPS) to $2.02, topping the consensus estimate of $1.89.
Looking ahead, Apple anticipates revenue growth of 9% to 11% in the fiscal fourth quarter, with iPhone sales expected to grow in the mid-teens despite currency pressures and supply constraints. The company guided for gross margins between 47% and 48% in the upcoming period.
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