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Apple (AAPL) Q4 FY26 earnings results (fourth quarter fiscal 2026)
10-K filed Nov 3, 2026
Apple (AAPL) reported revenue of $114.5B for the fourth quarter fiscal 2026 (Q4 FY26), +12% from a year earlier and +5% from the quarter before. Operating margin was 31.1%, net earnings $30.7B (26.8% of revenue).
Apple, Q4 FY26: revenue $114.5B (+12% year over year), operating margin 31.1%, net earnings $30.7B, operating cash flow $28.1B. The chart follows the revenue to costs, profit and cash.
| Q4 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $114.5B | +5% | +12% |
| Gross profit | $54.8B | +0.1% | +13% |
| Operating profit | $35.6B | -0.2% | +10% |
| Net earnings | $30.7B | +3% | +12% |
| Operating cash flow | $28.1B | -18% | -5% |
| Free cash flow | $25.9B | -19% | -2% |
What changed
Revenue was $114.5B in Q4 FY26, up 12% year over year and up 5% from the previous quarter. iPhone was the largest line at 50% of revenue.
Gross margin was 47.9%, up 0.7 points from Q4 FY25. Operating profit was $35.6B, a 31.1% margin (down 0.5 points year over year). Of the extra revenue versus Q4 FY25, 27% reached operating profit, below the 32% margin then. Operating expenses grew 21% against revenue growth of 12%. The fastest-growing cost line was Research & development (+32%). Net earnings were $30.7B, up 12% year over year. The effective tax rate was 15.0%.
Operating cash flow was $28.1B (down 5% year over year), 92% of net earnings. Non-cash charges added back $3.5B of depreciation and amortization and $3.3B of share-based compensation. Working capital and other items used $9.3B. Capital expenditures of $2.2B left free cash flow of $25.9B.
Questions
What was Apple's revenue in the fourth quarter fiscal 2026?
Apple (AAPL) reported revenue of $114.5B for the fourth quarter fiscal 2026 (Q4 FY26), +12% from a year earlier and +5% from the quarter before.
Was Apple profitable in the fourth quarter fiscal 2026?
Operating profit was $35.6B (31.1% of revenue) and net earnings $30.7B.
Source: Apple 10-K on SEC EDGAR.