{
  "id": 17861024,
  "title": "New CEO John Ternus delivers an Apple earnings beat — but soft China and iPad sales",
  "url": "https://urgent.news/2026/11/02/new-ceo-john-ternus-delivers-an-apple-earnings-beat-but-soft-china",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-11-02T21:55:47.000Z",
  "source": {
    "name": "Business Insider",
    "slug": "business-insider",
    "url": "https://www.businessinsider.com/apple-q4-earnings-china-ipad-sales-miss-2026-11"
  },
  "original_language": "en",
  "account": "John Ternus, Apple's new CEO, unveiled the company's earnings report for the first time on Monday. The report showed Apple exceeding expectations with revenue of $114.5 billion for the third quarter, or its fiscal fourth quarter, surpassing Wall Street's estimates of $113.46 billion. Earnings per share also beat estimates, coming in at $2.10 compared to the expected $2.00.\n\nHowever, the report did not provide favorable news for all segments. Apple's revenue from China, a key market, fell short of analysts' expectations, totaling $17.54 billion against estimates of $18.75 billion. Additionally, iPad sales were lower than anticipated, amounting to $6.23 billion compared to Wall Street's estimate of $6.83 billion.\n\nOn the positive side, Apple's Services segment performed as expected, bringing in $31.57 billion. The company's highly regarded gross margin remained at 47.9%. Apple's new CEO, who succeeded Tim Cook on September 1, has already introduced several major new products, including a folding smartphone, the iPhone Duo, a smart home hub, Apple HomeView, and the first touchscreen MacBook Pro. While the iPhone Duo didn't launch until October, Wall Street will be watching to see how early orders are progressing.\n\nTernus faced challenges in his debut earnings call, including the impact of soaring memory costs and supply chain constraints, which led to price increases for hardware. The CEO will lead his first earnings call with analysts at 5 p.m. ET.",
  "summary": "Apple's revenue for its fiscal Q4 was $114.5 billion, surpassing Wall Street's estimates of $113.46 billion. EPS came in at $2.10, topping estimates.",
  "key_points": [
    "Apple CEO John Ternus reports $114.5B revenue, beating estimates",
    "China revenue falls short at $17.54B, below $18.75B forecast",
    "iPad sales at $6.23B, down from $6.83B expected"
  ],
  "editors_take": null,
  "illustration": "https://urgent.news/ill/17861024.png",
  "coverage": {
    "outlets": 8,
    "also_reported_by": [
      {
        "outlet": "CNBC",
        "title": "Apple earnings live updates: New CEO John Ternus faces first Wall Street test",
        "url": "https://urgent.news/2026/11/02/apple-earnings-live-updates-new-ceo-john-ternus-faces-first-wall",
        "published": "2026-11-02T15:01:18.000Z"
      },
      {
        "outlet": "9to5Mac",
        "title": "Here’s how to listen live to Apple’s Q4 2026 earnings call",
        "url": "https://urgent.news/2026/11/02/heres-how-to-listen-live-to-apples-q4-2026-earnings-call",
        "published": "2026-11-02T17:13:36.000Z"
      },
      {
        "outlet": "Nikkei Asia",
        "title": "Apple's new CEO delivers first earnings as sales hit record",
        "url": "https://urgent.news/2026/11/02/apples-new-ceo-delivers-first-earnings-as-sales-hit-record",
        "published": "2026-11-02T20:19:51.000Z"
      },
      {
        "outlet": "Techmeme",
        "title": "Apple reports Q4 revenue up 12% YoY to $114.48B, above $113.39B est., and net income up 12% to $30.7B, in John Ternus' first earnings report (Apple)",
        "url": "https://urgent.news/2026/11/02/apple-reports-q4-revenue-up-12-yoy-to-114-48b-above-113-39b-est-and",
        "published": "2026-11-02T21:40:00.000Z"
      },
      {
        "outlet": "Deadline",
        "title": "Apple FYQ4 Revenue Tops Forecasts On iPhone Sales As New CEO John Ternus Steps Up",
        "url": "https://urgent.news/2026/11/02/apple-fyq4-revenue-tops-forecasts-on-iphone-sales-as-new-ceo-john",
        "published": "2026-11-02T21:48:11.000Z"
      },
      {
        "outlet": "Quartz",
        "title": "iPhone sales lifted Apple to record September-quarter revenue of $114.5 billion",
        "url": "https://urgent.news/2026/11/02/iphone-sales-lifted-apple-to-record-september-quarter-revenue-of-114",
        "published": "2026-11-02T22:00:34.000Z"
      },
      {
        "outlet": "AppleInsider",
        "title": "Apple beats Wall Street forecasts in first Ternus-led Q4 earnings",
        "url": "https://urgent.news/2026/11/02/apple-beats-wall-street-forecasts-in-first-ternus-led-q4-earnings",
        "published": "2026-11-02T22:12:13.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}