Filing Flows › Apple (AAPL) › Q3 FY26 › vs Q3 FY25
Apple (AAPL) Q3 FY26 vs Q3 FY25 (year over year)
Apple's revenue rose $15.4B (+16%) from $94.0B in Q3 FY25 to $109.4B in Q3 FY26. The biggest changes: Products +$12.1B (+18%); Services +$3.3B (+12%). Gross margin 50.1% against 46.5% (+3.6 pts).
Apple, Q3 FY26: revenue $109.4B (+16% year over year), operating margin 32.6%, net earnings $29.8B, operating cash flow $34.4B. The chart draws each line against Q3 FY25, the increases inside each band.
Margins
| Q3 FY26 | Q3 FY25 | Change | |
|---|---|---|---|
| Gross margin | 50.1% | 46.5% | +3.6 pts |
| Operating margin | 32.6% | 30.0% | +2.6 pts |
| Net margin | 27.2% | 24.9% | +2.3 pts |
| Free cash flow margin | 29.2% | 26.0% | +3.2 pts |
Every line
| Line | Q3 FY26 | Q3 FY25 | Change | % |
|---|---|---|---|---|
| iPhone | $54.3B | $44.6B | $9.7B | +22% |
| Mac | $10.4B | $8.0B | $2.3B | +29% |
| Wearables, Home and Accessories | $7.9B | $7.4B | $479M | +6% |
| iPad | $6.2B | $6.6B | −$390M | -6% |
| Products | $78.7B | $66.6B | $12.1B | +18% |
| Services | $30.7B | $27.4B | $3.3B | +12% |
| Revenue | $109.4B | $94.0B | $15.4B | +16% |
| Gross profit | $54.8B | $43.7B | $11.1B | +25% |
| Cost of revenue | $54.6B | $50.3B | $4.3B | +9% |
| Other income, net | $572M | −$171M | $743M | — |
| Operating profit | $35.7B | $28.2B | $7.5B | +27% |
| Operating expenses | $19.1B | $15.5B | $3.6B | +23% |
| Pre-tax earnings | $36.3B | $28.0B | $8.2B | +29% |
| Research & development | $11.7B | $8.9B | $2.9B | +32% |
| Sales & marketing | $5.0B | $4.8B | $265M | +6% |
| General & admin | $2.3B | $1.9B | $431M | +23% |
| Net earnings | $29.8B | $23.4B | $6.4B | +27% |
| Income tax | $6.5B | $4.6B | $1.9B | +41% |
| Depreciation & amortization | $3.3B | $2.8B | $490M | +17% |
| Share-based compensation | $3.4B | $3.2B | $233M | +7% |
| Working capital & other | $2.1B | $1.6B | $576M | +37% |
| Operating cash flow | $34.4B | $27.9B | $6.5B | +23% |
| Free cash flow (OCF − capex) | $31.9B | $24.4B | $7.5B | +31% |
| Capital expenditures | $2.5B | $3.5B | −$1.0B | -29% |
Questions
How much did Apple's revenue grow year over year in Q3 FY26?
Apple's revenue rose $15.4B (+16%) from $94.0B in Q3 FY25 to $109.4B in Q3 FY26.
What drove Apple's revenue change in Q3 FY26?
Products +$12.1B (+18%); Services +$3.3B (+12%).