Apple beats expectations in third quarter with revenue of $109.4bn
In the third fiscal quarter of 2026, Apple performed better than analysts had expected. The technology company reported revenue of $109.4 billion, an increase of 16% compared with the same period last year.
The strong results were mainly driven by sales of the iPhone and Mac. iPhone revenue came in at $54.25 billion, while Mac activities contributed $10.35 billion. In particular, Mac sales were above market expectations.
Apple achieved a net profit of around $29.8 billion, compared with $24.4 billion a year earlier. Earnings per share came to $2.02, higher than forecast.
Apple’s services business also remained an important pillar supporting growth. Revenue from services amounted to $30.74 billion, although this was slightly below analysts’ expectations.
The results come at an important moment for Apple. It was the last quarterly report under the leadership of chief executive Tim Cook, who will later this year hand over the role of chairman of the board to his successor John Ternus. Investors are also keeping a close eye on Apple’s strategy around artificial intelligence and the way the company wants to further integrate AI into its products.
Ternus is expected to continue the growth of Apple’s film and television division, which has built up a great deal of momentum in recent years with successful films and series, such as Ted Lasso, Severance and Pluribus.
During the premiere of the fourth season of Ted Lasso in Los Angeles, Ternus said that Apple had accumulated a strong catalogue of popular series, films and characters. He indicated that the company wants to keep investing in high-quality productions and build on its current success.
Cook also emphasised that Apple does not want to become the largest streaming service, but wants to set itself apart with high-quality content. According to him, the company is open to new partnerships, provided Apple can use its technological expertise to add something unique. As an example, he mentioned the collaboration with Formula 1, for which Apple developed special cameras for the film F1 and holds exclusive broadcasting rights in the United States for the races via Apple TV.
Ternus will announce a range of new smartphones in September, including Apple’s first foldable smartphone.
The device will probably not be released until months later. There are said to be a maximum of 1 million units of the foldable iPhone, strikingly few for a global launch. The name is still unknown, but the phone is expected to be called iPhone Fold or iPhone Ultra.
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