Apple continued to see sales in its flagship iPhone family balloon, while the tech giant’s services business hit a new all-time high, in the first earnings report under CEO John Ternus.
\n\nThe financial results were for Apple’s fiscal 2026 fourth quarter ended Sept. 26, 2026. Total iPhone revenue of $57.58 billion increased 17% and Apple’s Services segment revenue of $31.57 billion — a new record — was up 9.8%. The Services segment includes the App Store, Apple TV, Apple Music, Apple Pay, AppleCare, iCloud and advertising.
\n\nThe company posted total quarterly revenue of $114.5 billion, up 12% year over year. Overall gross margin was 47.9 percent, including a favorable impact of approximately one percentage point from tariff refunds, after the Supreme Court invalidated Trump’s tariffs. Diluted earnings per share came in at $2.10, up 14% year over year, and included a favorable impact of $0.05 from tariff refunds.Sales of iPhone reached a September-quarter record and Services hit an all-time high, “capping off our best fiscal year ever,” Ternus said in a statement.
\n\nTernus was Apple’s head of hardware before taking over the CEO role from Tim Cook as of Sept. 1. He said the tech giant is “closing the year…
Original source: https://variety.com/