{
  "id": 17923467,
  "title": "Apple earnings beat expectations, but rising chip costs worry investors",
  "url": "https://urgent.news/2026/11/03/apple-earnings-beat-expectations-but-rising-chip-costs-worry-investors-17923467",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-11-03T06:16:43.000Z",
  "source": {
    "name": "Euronews",
    "slug": "euronews",
    "url": "https://www.euronews.com/2026/11/03/apple-earnings-beat-expectations-but-rising-chip-costs-worry-investors"
  },
  "original_language": "en",
  "account": "In the three months ending on 26 September 2026, Apple reported revenue that exceeded expectations, driven by a surge in iPhone sales during September. The Cupertino-based tech giant's revenue climbed 12% to $114.5 billion ($102.1 billion), and earnings per share rose 12% to $2.10 ($1.99). Analysts had forecast earnings of $1.99 per share on revenue of $113.4 billion ($101.1 billion).\n\nThe improvement in profits was partly attributed to tariff refunds, which added $0.05 per share to earnings. Gross margins expanded to 47.9%, up from 46.3% previously. However, the gains were tempered by concerns over rising chip costs, which pressured Apple's margins. The company expects gross margins to contract to between 45% and 46% in the December quarter, lower than the 46.3% anticipated.\n\nApple's iPhone sales grew 17.5% to $57.6 billion ($51.4 billion), while Mac sales increased almost 24%. iPad revenue dipped 10.4%, and wearables, home, and accessories sales fell 7.9%. Ternus, Apple's new CEO, highlighted the company's recovery in Greater China, where revenue rose 21% compared to the previous year, contributing to the quarterly growth.\n\nApple anticipates revenue growth of 7% to 10% in the December quarter, slightly slower than the 9.8% growth in the September quarter. The slowdown in services growth is attributed to pressure from third-party licensing and currency movements. Despite the concerns, Apple remains optimistic about its financial outlook, expecting overall revenue to increase by 7% to 10%.",
  "summary": "Better-than-expected results from Apple for the last quarter of the company’s fiscal year 2026 were overshadowed by rising memory chip costs and a forecast for slower services growth.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "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."
}