Apple Reports Record September-Quarter Revenue of $114.5 Billion

What happened

Apple reported record revenue of $114.5 billion for its September quarter in fiscal 2026, up 12% from a year earlier. Net income rose to $30.711 billion, and diluted earnings per share, or profit allocated to each share, increased 14% to $2.10, including a benefit from tariff refunds.

Confirmed

Global impact / market context

Higher revenue and net income indicate stronger sales and earnings, while the reported per-share profit also received a boost from tariff refunds. Because the refund benefit is not necessarily recurring, investors may distinguish underlying business growth from this temporary contribution when judging future earnings.

Analyst inference

Apple reported records in iPhone revenue and Services, and its active-device base reached a new high. These details suggest growth across hardware and recurring services, while the refund contribution means reported profit growth does not by itself show how much came from ongoing operations.

Analyst inference

What to watch

1. Compare future revenue and earnings growth with this quarter’s results to assess whether sales momentum continues, since stronger sales can support company income and investment capacity. Analyst inference
2. Watch future reported results for tariff-refund effects; the article says refunds boosted gross margin and earnings per share, meaning they increased reported profit without necessarily reflecting ordinary sales. Confirmed
3. Track iPhone and Services performance alongside the active-device base, since sustained growth could support hardware sales and recurring service revenue for Apple. Analyst inference

Evidence

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