Apple earnings beat forecasts as iPhone and Services grow, with a tariff refund lifting profit
Earnings results
- EPS beat +5.5%
Actual: $2.1 · Cons.: $1.99 (GAAP diluted EPS; Apple reports GAAP earnings and the provider compares its same $2.10 result)
- Revenue beat +0.9%
Actual: $114.477B · Cons.: $113.4B (Total net sales; MarketBeat dated consensus rounded to two decimals in billions)
- Guidance
Declared a $0.27 cash dividend per share. The issuer release does not provide a numerical next-quarter revenue or EPS outlook.
Earnings and the stock move
Apple’s November 2 results beat the dated earnings and revenue estimates, supported by iPhone growth and a larger Services business. Tariff refunds contributed $0.05 to reported profit per share and roughly one percentage point to the 47.9% gross margin. Investors should distinguish that benefit from lasting product demand when judging holiday-season prospects. The after-close quote is a separate reaction from the completed regular session.
Q4 FY2026 ended September 26, 2026 earnings recap
Apple’s earnings topped forecasts as iPhone and Services sales grew, with tariff refunds also lifting profit. Shares traded about 0.4% higher after hours on November 2 versus the same day’s regular close.
- Revenue reached $114.48 billion, above the $113.4 billion analyst estimate. That makes it a record September quarter and shows demand for Apple’s devices and services continued to expand.
- GAAP diluted EPS, meaning profit per share, was $2.1 against a $1.99 estimate. Tariff refunds added $0.05 per share, so part of the profit benefit was temporary.
- iPhone revenue rose to $57.58 billion from $49.03 billion a year earlier. Investors will next watch whether demand stays strong through the holiday season.
- Services revenue reached $31.57 billion, up from $28.75 billion. Its subscriptions and other services help Apple earn money from customers after they buy a device.
- Greater China sales rose to $17.54 billion from $14.49 billion. This is an improvement in an important market, while competition and trade policy remain risks.
- Apple generated about $28 billion of operating cash flow during the quarter and returned about the same amount to shareholders. It also declared a $0.27 cash dividend per share.
The key question is how much growth and profitability can persist without refund benefits. Holiday demand, component costs and the valuation matter more than a small early after-hours move.
Financials and technicals
Charts through Nov 2, 2026. The session move above may reflect later news.
Technical setup and risks
Bearish scenario: A regular close below $334 would break the recent low area. Earnings volatility can cross chart levels. Confirmation: Watch next-session price and volume after management discusses the quarter. Bullish scenario: A regular close above $344 would reclaim the November 2 high area and the 20-day average.
After-hours move is measured versus the same-day regular close AI-assisted research with source and calculation checks. Prices may be delayed. Technical charts use the stated completed session, which can precede the quoted intraday move. Educational information; investing involves risk.