Apple reports Q3 revenue up 16% YoY to $109.42B, vs. $108.65B est., net income up 27% to $29.79B, and China revenue up 22% to $18.82B, vs. $19.6B estimated

CUPERTINO, Calif.—(BUSINESS WIRE)—Apple® today announced financial results for its fiscal 2026 third quarter ended June 27, 2026.

Apple 2026-07-30

Context & Ripple Effects

Apple's latest quarter extends the stronger growth cadence seen in its 16% Q1 revenue increase, after a prior-year Q3 in which revenue grew 10%. The comparison indicates that the company has maintained a higher growth rate beyond the seasonally larger first fiscal quarter.

China remains central to that arc: growth accelerated from the 4% China-sales gain in the prior-year Q3 and follows a 38% rise reported in Q1. This quarter's China result nonetheless came in below the stated estimate, separating regional momentum from investor expectations.

First-order effects

Apple beat the reported revenue estimate while net income grew faster than sales, reinforcing the earnings momentum reflected in its fiscal 2026 results.
China revenue rose year over year but missed the stated estimate, making the region an immediate point of scrutiny despite its strong growth rate.

Second-order effects

The below-estimate China result raises the bar for Apple to sustain regional growth in subsequent quarters; investors will distinguish continued expansion from merely favorable comparisons.
A second consecutive period of double-digit companywide growth versus the prior-year Q3 gives competitors a tougher benchmark in premium consumer technology, even as Apple's regional performance remains uneven.

Third-order effects

If Apple can sustain elevated growth across quarters, its scale and earnings growth would further concentrate competitive pressure among companies competing for high-value device customers and their recurring spending.
The pattern points to a more region-sensitive growth profile: aggregate results can remain strong while market-level misses increasingly shape how investors assess durability.

The trend: Apple's results are one data point in the shift from judging mature device companies on headline sales alone to judging the durability and geographic composition of their growth.

Discussion

@lanceulanoff Lance Ulanoff on x
If I'm reading Apple's earnings right, Services is now over $30B in revenue. As I've said before, this is Cook's legacy. #AppleEarnings [image]
@neilcybart Neil Cybart on x
Apple returned to its usual $25B of share buyback pace last quarter.
@munster_gene Gene Munster on x
$AAPL was overall slightly better than expected, which explains why the stock is down 2% …
@neilcybart Neil Cybart on x
Apple's 3Q26 earnings are out. $109.4B revenue. Consensus was $109B $1.91 EPS (adjusted). …
@danielnewmanuv Daniel Newman on x
$AAPL calmly beats top and bottom despite its significant price increases and loud complaining about the rising cost of memory and its need for the U.S. to approve it to use Chinese memory.
Emil Protalinski Emil Protalinski on linkedin
Apple's Q3 2026 earnings report was okay, but nothing special. — Here are the year-over-year numbers: — Revenue up 16% to $109.4 billion …
r/apple r on reddit
Apple reports third quarter results
@mweinbach Max Weinbach on x
For those worried MacBook Neo would hurt Apple's product margin, from the earnings call: “Products gross margin was 40.1%, up 140 basis points sequentially. This also included a benefit from the tariff refunds, which had a favorable impact of over 2.5%.”
@htsfhickey Fred Hickey on x
Listening to Apple conference call currently. What a mess! Services growth slowed significantly. …
@munster_gene Gene Munster on x
The $AAPL guide is not as bad as it first looks. Stock now down 8%, at after-hours lows. …
@mweinbach Max Weinbach on x
Cook essentially just said on the earnings call that Chinese memory, if they could use it, would help on the supply side and they are not sure about the pricing side Essentially, they just need access and it doesn't necessarily mean it's “cheap Chinese memory”
@lanceulanoff Lance Ulanoff on x
Tim Cook on incoming CEO John Ternus, “He is truly one of a kind.” #AppleEarnings
@munster_gene Gene Munster on x
$AAPL guide was soft because of supply constraints and 2.5% qq FX growth headwind. Guided Sep revenue up 9-11%. Street was at 12%. Adjusting for FX it would have been up 11.5%-13%. Investors don't care why the guide is lower (FX and supply are not long term issues), they just wan…
@munster_gene Gene Munster on x
Cook says Apple has created the world's best consumer hardware to experience AI. My take: I agree and expect a consumer hardware upgrade cycle in 2027-2029 driven by personalized AI.
@munster_gene Gene Munster on x
Cook says Mac had significant supply constrains and grew at 29%. Would have been better. $AAPL
@caro_milanesi Carolina Milanesi on x
Ah we knew today was going to be @tim_cook last earnings call but it turns out to be John Ternus' first as well - continuity! $AAPL
@zerohedge @zerohedge on x
AAPL is desperately in need of a new revenue stream. Even Services has topped out. The rest is a melting icecube, and after the price hikes, sales will crater [image]
@charliebilello Charlie Bilello on x
Apple revenues increased 16% over the last year to a new Q2 record of $109 billion. Net Income grew 27% year-over-year to new Q2 record of $30 billion. Gross margins increased to 50% (from 46% a year ago), the highest margin in company history. $AAPL [image]
@stocksavvyshay Shay Boloor on x
$AAPL Q3 EARNINGS • Revenue $109.4B vs Est. $108.9B • EPS $2.02 vs Est. $1.89 • China Revenue $18.8B vs Est. $19.6B • iPhone Revenue $54.3B vs Est. $53.6B • Mac Revenue $10.4B vs Est. $8.6B • R&D spend: $11.7B (+32% YoY) [image]
@wolf_financial Wolf on x
BURIED IN APPLE'S $AAPL BALANCE SHEET IS A NUMBER THAT SHOWS HOW SERIOUSLY IT'S TAKING …
@zerohedge @zerohedge on x
*APPLE 3Q REV. $109.42B, EST. $108.85B
@neilcybart Neil Cybart on x
I need to spend more time in my Apple earnings model, but Apple may have just reported the strongest year-over-year quarterly revenue growth for Apple Watch and AirPods in years. Will need to confirm how Home/Accessories performed.
@asymco Horace Dediu on x
Tim Cook's last earnings conference call. A bit sad.
@deitaone @deitaone on x
APPLE BEATS ESTIMATES ON IPHONE, MAC STRENGTH Results EPS: $2.02 ($1.91 ex-tariff refunds) …
@asymco Horace Dediu on x
Diluted earnings per share was $2.02, up 29% y/y, and included a favorable impact of $0.11 from tariff refunds. Excluding refunds earnings would have been $1.91, inline with expectations of $1.90 and a slight miss from my $1.93 estimate.
@asymco Horace Dediu on x
iPhone grew 21.7%, same as previous q. Mac grew 28.7%(!), well above 5.7% in the previous quarter. iPad down 5.9% (as expected given compare). Wearables up 6.5% vs. 5%. Services up 12% only disappointment. [image]
@asymco Horace Dediu on x
iPhone grew 21.7%, same as previous q. Mac grew 28.7%(!), well above 5.7% in the previous quarter. iPad down 5.9% (as expected given compare). Wearables up 6.5% vs. 5%. Services up 12% only disappointment.
@mweinbach Max Weinbach on x
For those interested in Apple's services being a bit below guide, Tim Cook says “Turning to services Revenue was $30.7 billion a June quarter. Revenue record, and up 12% from a year ago. Despite significant sequential foreign exchange headwinds.”
@asymco Horace Dediu on x
Tim Cook cites *significant* headwinds on currency for Services growth.
Newsmax Stephen Nellis on x
Apple Revenue, Profits Beat on iPhone, Mac Sales

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