Apple beats estimates in first report for new CEO
Apple reported fiscal third-quarter revenue of $114.5 billion and $2.10 a share, both above estimates, in its first report under CEO John Ternus. Shares fell about 3% after hours on thinner margin outlook.
IllustrationThe story so far
On 2 November 2026, Apple reported fiscal third-quarter results that beat estimates, giving new CEO John Ternus an upbeat start. The company said profit was $30.71 billion, or $2.10 a share, up 12% from a year earlier, while analysts had expected $1.99 a share on $113.4 billion revenue. Earnings included five cents a share from tariff refunds. The result bucked a downward trend after disappointing quarters from Alphabet, Amazon and Intel.
The next day, Apple added that revenue for the three months to 26 September was $114.5 billion, up 12% and above estimates, with record iPhone sales in the September quarter. Shares fell about 3% after hours on thinner margins. Apple expects December quarter revenue to rise 7% to 10%, while gross margin falls to 45% to 46% on memory costs and Siri AI spending. On its earnings call, CFO Kevan Parekh said the company may look to boost services revenue through third-party apps and partnerships, without detailing how they would contribute.
Latest updates
3 updates · newest first- 3 NovOfficial statement
Apple may boost services revenue via third-party AI apps
Apple said on its earnings call that it may look to boost services revenue through third-party apps and partnerships. Chief Financial Officer Kevan Parekh said AI offers a compelling reason for customers to upgrade and switch, without detailing how third-party apps would contribute. Investors are wondering whether Apple could distribute third-party AI agents through the App Store and take a cut of their revenue.
TechCrunch ↗
- 3 NovNew development
Apple beats estimates on record iPhone sales, but shares fall on margin outlook
Apple reported revenue of $114.5 billion for the three months to 26 September, up 12% and above estimates, with record iPhone sales in the September quarter. Earnings were $2.10 a share, versus $1.99 expected, but shares fell about 3% after hours on thinner margins. Apple expects December quarter revenue to rise 7% to 10%, while gross margin falls to 45% to 46% on memory costs and Siri AI spending.
Euronews ↗
MarketWatch ↗
Gizmodo ↗
The Verge ↗
- 2 NovNew development
Apple beats estimates in first report for CEO John Ternus
Apple posted stronger-than-expected fiscal third-quarter revenue and profit of $30.71 billion, or $2.10 a share, up 12% from a year earlier. The result gave new CEO John Ternus an upbeat start and bucked a downward trend after disappointing quarters from Alphabet, Amazon and Intel. Apple said earnings included five cents a share from tariff refunds, while analysts had expected $1.99 a share on $113.4 billion revenue.
The Guardian ↗