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Apple (AAPL) Q3 FY26 earnings results (third quarter fiscal 2026)
10-Q filed Jul 31, 2026
Apple (AAPL) reported revenue of $109.4B for the third quarter fiscal 2026 (Q3 FY26), +16% from a year earlier and -2% from the quarter before. Operating margin was 32.6%, net earnings $29.8B (27.2% of revenue).
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 follows the revenue to costs, profit and cash.
| Q3 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $109.4B | -2% | +16% |
| Gross profit | $54.8B | 0% | +25% |
| Operating profit | $35.7B | -0.5% | +27% |
| Net earnings | $29.8B | +0.7% | +27% |
| Operating cash flow | $34.4B | +20% | +23% |
| Free cash flow | $31.9B | +19% | +31% |
What changed
Revenue was $109.4B in Q3 FY26, up 16% year over year and down 2% from the previous quarter. iPhone was the largest line at 50% of revenue. iPhone added $9.7B year over year (up 22%), 63% of the total change. iPad declined 6%.
Gross margin was 50.1%, up 3.6 points from Q3 FY25. Operating profit was $35.7B, a 32.6% margin (up 2.6 points year over year). Of the extra revenue versus Q3 FY25, 49% reached operating profit, above the 30% margin then. Operating expenses grew 23% against revenue growth of 16%. The fastest-growing cost line was Research & development (+32%). Net earnings were $29.8B, up 27% year over year. The effective tax rate was 17.9%.
Operating cash flow was $34.4B (up 23% year over year), 115% of net earnings. Non-cash charges added back $3.3B of depreciation and amortization and $3.4B of share-based compensation. Working capital and other items used $2.1B. Capital expenditures of $2.5B left free cash flow of $31.9B.
Questions
What was Apple's revenue in the third quarter fiscal 2026?
Apple (AAPL) reported revenue of $109.4B for the third quarter fiscal 2026 (Q3 FY26), +16% from a year earlier and -2% from the quarter before.
Was Apple profitable in the third quarter fiscal 2026?
Operating profit was $35.7B (32.6% of revenue) and net earnings $29.8B.
Source: Apple 10-Q on SEC EDGAR.