Apple reports its best September quarter ever – $114.5 billion in revenue, with Europe up 12 per cent to $32 billion.
Key points
- On 2 November 2026 Apple reported revenue of $114.5 billion for its fiscal fourth quarter (ended 26 September 2026) – up 12 per cent and a September-quarter record.
- iPhone revenue rose 17 per cent to $57.6 billion; Services hit an all-time high of $31.6 billion.
- Europe, the region that includes the UK, contributed $32.0 billion, up 12 per cent year on year.
- These are the first quarterly results under new chief executive John Ternus, who took over from Tim Cook on 1 September 2026.
Apple has reported record revenue of $114.5 billion for its fiscal fourth quarter, the highest figure it has ever posted for a September quarter. They are the first results under its new chief executive, John Ternus, and show Europe growing at the same pace as the group as a whole.
The Cupertino, California-based company published the figures for the fourth quarter of its 2026 financial year in a press release and in a filing with the US Securities and Exchange Commission (SEC). The change at the top is the headline: this is the first quarterly report John Ternus has presented as CEO.
For customers in the UK, one figure stands out: Services revenue – which covers subscriptions such as Apple Music and iCloud+ as well as App Store sales – reached a record high. A UK Apple Music subscription currently costs £11.99 a month.
The fourth-quarter figures at a glance
According to Apple, revenue for the fourth fiscal quarter of 2026 (28 June to 26 September 2026) was $114.48 billion, compared with $102.47 billion a year earlier. Net income rose 12 per cent to $30.71 billion and diluted earnings per share rose 14 per cent to $2.10. Apple says this includes a benefit of $0.05 per share from tariff refunds.
| Metric | Q4 FY2026 | Q4 FY2025 | Change |
|---|---|---|---|
| Total revenue | $114.48bn | $102.47bn | +12% |
| iPhone revenue | $57.58bn | $49.03bn | +17% |
| Services revenue | $31.57bn | $28.75bn | +10% |
| Europe revenue | $32.01bn | $28.70bn | +12% |
| Net income | $30.71bn | $27.47bn | +12% |
Source: Apple Inc., press release “Apple reports fourth quarter results” and Form 8-K, Exhibit 99.1, 2 November 2026. All figures in US dollars; fiscal quarter from 28 June to 26 September 2026.
Gross margin was 47.9 per cent, of which Apple attributes around one percentage point to the tariff refunds. For the full 2026 financial year Apple reported revenue of $478.8 billion, up from $416.2 billion, and net income of $132.2 billion.
“Today, Apple is proud to report a September quarter revenue record of $114.5 billion, up 12 percent from a year ago.”
John Ternus, Chief Executive Officer (CEO), Apple Inc., press release of 2 November 2026
The leadership change: Ternus succeeds Cook after 15 years
Apple announced the change on 20 April 2026 in a separate press release: Tim Cook, chief executive since 2011, became executive chairman of the board on 1 September 2026, focusing mainly on relations with governments. John Ternus, previously senior vice president of hardware engineering, became CEO.
According to Apple, the board approved the move unanimously as the outcome of a long-term succession process. Arthur Levinson, who had chaired the board for 15 years, became lead independent director. The quarter now reported is the first full set of results for which Ternus is responsible as CEO.
Europe grows – and where the UK fits in
Revenue in Apple’s Europe segment rose 12 per cent to $32.0 billion in the fourth quarter. For the full 2026 financial year the region generated $127.6 billion, against $111.0 billion a year earlier. Apple does not break out individual countries; the UK is included in the Europe figure, which in Apple’s reporting also covers India, the Middle East and Africa.
Apple gives no specific reason for the growth in its release. Looking ahead to the holiday quarter, Ternus pointed to the “all-new Siri AI” as part of the line-up – a sign that Apple is counting on new AI features to keep sales growing in Europe too.
Services record: what UK customers pay
Apple’s Services business includes Apple Music, iCloud+, Apple TV, Apple Arcade, AppleCare and App Store revenue. Apple does not publish Services revenue by country. These are the current UK prices, checked directly on apple.com/uk on 7 November 2026:
| Subscription | Price per month |
|---|---|
| Apple Music Individual | £11.99 |
| Apple Music Family (you plus up to five people via Family Sharing) | £19.99 |
| Apple Music Student (verification required) | £5.99 |
Source: Apple (UK prices), accessed 7 November 2026. New subscribers get the first month free.
For iCloud+, Apple’s storage subscription, Apple’s current UK price list (7 November 2026) shows £0.99 a month for 50 GB, £2.99 for 200 GB, £8.99 for 2 TB, £26.99 for 6 TB and £54.99 for 12 TB.
How much price changes contribute to the global Services record cannot be read from the group figures – Apple does not break down revenue by individual service or country.
Practical checklist for Apple subscriptions in the UK
- Check your subscriptions on your iPhone: Settings, your name, then “Subscriptions”.
- If you use several Apple services, compare the Apple One bundle with the individual prices.
- Use Family Sharing to cut the cost per person, for example with Apple Music Family.
- Students can check the £5.99 Apple Music student plan with valid verification.
- Cancel unused subscriptions before the next billing date, not afterwards.
These points are not personal advice, but they offer a starting point at a time of rising subscription prices.
Frequently asked questions
How much revenue did Apple make in its fiscal fourth quarter of 2026?
Apple reported revenue of $114.5 billion for the quarter ended 26 September 2026, up 12 per cent year on year and, according to Apple, a record for a September quarter.
Who is Apple’s new CEO?
John Ternus, previously in charge of hardware engineering, has led Apple as chief executive since 1 September 2026. He succeeded Tim Cook, who became executive chairman after 15 years as CEO.
How much does Apple Music cost in the UK?
According to Apple’s UK website (7 November 2026), Apple Music costs £11.99 a month for an individual, £19.99 for the family plan and £5.99 for verified students.
How much does iCloud+ cost in the UK?
According to Apple (7 November 2026), iCloud+ costs £0.99 a month for 50 GB, £2.99 for 200 GB, £8.99 for 2 TB, £26.99 for 6 TB and £54.99 for 12 TB.
Sources and status
- Apple Inc.: press release “Apple reports fourth quarter results”, 2 November 2026
- Apple Inc.: Form 8-K, Exhibit 99.1, filed with the SEC on 2 November 2026
- Apple Inc.: press release “Tim Cook to become Apple Executive Chairman, John Ternus to become Apple CEO”, 20 April 2026
- Apple UK: Apple Music prices, accessed 7 November 2026
- Apple Support: iCloud+ plans and pricing, accessed 7 November 2026
Research and data as of 7 November 2026.
Transparency note: AI-assisted tools were used in researching, structuring and writing this article. The sources used are listed in the article. Publication takes place only after manual editorial approval. Country edition based on an article from Net Trends, researched for the United Kingdom.
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