Apple iPhone and Mac sales push fiscal Q4 revenue above $114 billion, beating estimates

A beat on the headline number offers the stock a helpful after-hours starting point, yet the conference call at 5:00 p.m. ET (2200 GMT) looms as the larger hurdle. On that call, commentary on gross margins and guidance for the December quarter is likely to carry more weight than the September results. The shortfall in Greater China is the item most likely to damp any rally, since investors watch the region closely as a gauge of iPhone competitiveness. Palantir had also beaten earlier in the session, and a firm Apple report adds to a constructive backdrop for US tech futures before Tuesday’s open.

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In John Ternus’s first quarter as CEO, Apple got over the threshold thanks to stronger iPhone and Mac sales, though weakness in China and in some hardware categories means the call and holiday guidance must carry the weight.

Key results:

• Fiscal Q4 EPS came to $2.10, versus an estimate of $2.00; revenue was roughly $114.5 billion, compared with forecasts near $113.5 billion
• Sales were up almost 12% from about $102.5 billion a year earlier, exceeding Apple’s 9% to 11% growth guidance
• iPhone brought in around $57.6 billion (est. about $56.5 billion), while Mac generated roughly $10.8 billion (est. about $9.7 billion)
• Both iPad, at about $6.2 billion, and wearables, home and accessories, at about $8.3 billion, fell short of estimates; services matched at about $31.6 billion
• Greater China revenue was roughly $17.5 billion, under forecasts of about $18.8 billion; the Americas was modestly ahead at about $48.7 billion
• This marked the first quarter reported under CEO John Ternus, alongside CFO Kevan Parekh; the conference call is scheduled for 5:00 p.m. ET

In the fiscal fourth quarter — the first set of results under Chief Executive John Ternus — Apple topped Wall Street’s expectations. Higher iPhone and Mac sales more than offset weaker Greater China, iPad and wearables figures.

For the quarter ending in late September, the company posted earnings of $2.10 a share, topping the $2.00 estimate. Revenue was roughly $114.5 billion, versus forecasts near $113.5 billion. That represents an increase of almost 12% from about $102.5 billion in the prior-year period. The outcome exceeds the high end of Apple’s July guidance, which called for growth of 9% to 11% and implied revenue of about $111.7 billion to $113.7 billion.

Hardware powered the outperformance. Products sales totaled roughly $82.9 billion, against expectations of about $81.9 billion. iPhone revenue reached around $57.6 billion, above estimates near $56.5 billion, even though the period captured just the first nine days of iPhone 18 Pro and Pro Max sales. Mac stood out at about $10.8 billion, compared with forecasts of around $9.7 billion.

Other categories lagged. iPad revenue was roughly $6.2 billion, under estimates near $6.9 billion. Wearables, home and accessories generated about $8.3 billion, below expectations of around $9 billion. Services revenue came to about $31.6 billion, essentially matching forecasts.

Regionally, the Americas brought in about $48.7 billion, a bit above estimates. Greater China was the obvious soft spot at about $17.5 billion, versus forecasts of roughly $18.8 billion. Operating expenses were about $19.2 billion, in line with expectations.

Gross margin was not part of the figures released so far. Apple had guided to 47% to 48% and noted ongoing pressure from higher memory prices, which makes the margin result a central item for the call.

Focus now shifts to the conference call featuring Ternus and Chief Financial Officer Kevan Parekh. The market’s judgment is likely to hinge on guidance for the December quarter; that period will be the first with a whole holiday season of iPhone 18 Pro sales. Any update on supply constraints and memory costs will matter as well.