Apple posts record $114.5 billion September quarter in John Ternus's first results as CEO

Apple reported record sales for the July-September quarter after Wall Street closed on Monday, the first set of results with John Ternus as chief executive. Revenue rose 12% from a year earlier to $114.5 billion, ahead of the roughly $113.4 billion analysts had expected.

“Today, Apple is proud to report a September quarter revenue record of $114.5 billion, up 12 percent from a year ago,” Ternus said in the company’s statement.

The iPhone did the heavy lifting. Sales of the phone came to about $57.6 billion, above the $56.6 billion forecast, helped by the first eight days of iPhone 18 Pro sales, and grew 17.5% from a year earlier. The Mac had an even better quarter, with sales up 23.7%, and services such as the App Store, iCloud and Apple Music grew 9.8% to an all-time high. iPad sales fell 10.4% and wearables, home and accessories dropped 7.9%.

Earnings per share rose 14% to $2.10, well above the $1.99 expected. Gross margin was 47.9%, which Apple said included about one percentage point from tariff refunds.

“Apple delivered September quarter records for net income and EPS,” said Kevan Parekh, the chief financial officer. Revenue for the full financial year, which ended on 26 September, came to a record $479 billion.

The board declared a dividend of 27 cents a share, payable on 16 November to shareholders on the books on 12 November.

Investors were not won over. Apple’s shares had closed the regular session about 1.8% lower at $338.32, and they slipped about 1% more after hours once the numbers were out. Ternus was due to take analysts’ questions on a call starting at 2 pm Pacific time, 3:30 am IST.