Apple beats Wall Street forecasts in first Ternus-led Q4 earnings

In the first quarter of 2026, Apple exceeded Wall Street's expectations, reporting revenue of $114.5 billion. This marked the first earnings results under new CEO John Ternus since Tim Cook's final call in July. The quarter was notable for several product launches, including the iPhone 18 Pro models, Mac lineup updates, a smart home refresh, and the debut of the iPhone Duo. The actual financial impact of these launches will be analyzed in the upcoming Q1 results.

Apple's revenue for Q4 2026 was $114.5 billion, surpassing the consensus estimate of $113.4 billion set by Wall Street analysts. Comparatively, Q4 2025 saw revenue at $102.5 billion. Revenue from individual product categories showed growth, with iPhone revenue increasing to $57.58 billion from $54.25 billion in the previous quarter.

Mac revenue rose to $10.79 billion from $10.35 billion, while iPad revenue expanded to $6.23 billion from $6.19 billion in Q4 2025. Wearables, Home, and Accessories revenue ascended from $7.88 billion to $8.3 billion, while Services revenue continued its upward trend, reaching $31.57 billion from $30.73 billion in Q4 2025.

In terms of overall financial performance, Apple's gross sales for the full year amounted to $478.3 billion, up from $416.2 billion in the 2025 fiscal year. The gross margin also improved, climbing from $195.2 billion in 2025 to $233.6 billion in 2026. Ternus highlighted Apple's achievement of a new September quarter record and the Services division hitting an all-time high.

He emphasized it as the best fiscal year for the company, attributing success to the impressive product lineup introduced during the quarter, such as the iPhone Duo, iPhone 18 Pro, and the touch-enabled MacBook Pro.