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How Apple Inc. (AAPL) makes money: Q3 2026 revenue breakdown
US GAAP · $M · vs Q3 2025 · reported 07/30/2026
Apple Inc. is an American multinational technology company headquartered in Cupertino, California, in Silicon Valley, and known for consumer electronics, software and online services. · Wikipedia
More about the company
Founded in 1976 as Apple Computer Company by Steve Jobs, Steve Wozniak and Ronald Wayne, the company was incorporated by Jobs and Wozniak as Apple Computer, Inc. the following year. Its current name was adopted in 2007 as the company expanded its focus from computers to consumer electronics. Apple is one of the Big Tech companies.
Key growth driver: iPhone — the fastest-growing revenue line: $54,252, +22% y/y. · by the Q3 2026 report
How does Apple make money?
Apple brought in $109 billion of revenue in Q3 2026, up 16.4% year over year. The largest source was iPhone: $54.3 billion, or 50% of the total, followed by Services ($30.7B, 28%) and Mac ($10.4B, 9%); other lines add the remaining 13%. Net income for the quarter was $29.8 billion, up 27.1% year over year.
Revenue by source, Q3 2026
- iPhone$54.3B · 50% · +21.7%
- Services$30.7B · 28% · +12.1%
- Mac$10.4B · 9% · +28.7%
- Wearables, Home & Accessories$7.88B · 7% · +6.5%
- iPad$6.19B · 6% · −5.9%
Shares of $109B total revenue; changes are year over year, as reported. ≈ marks lines derived from disclosed totals. The same flows are drawn in the Sankey chart below.
When is AAPL’s next earnings date?
Thursday, October 29, 2026estimated
Apple Inc. (AAPL) has not confirmed the date yet; Oct 29, 2026 is an estimate based on the company's past reporting schedule and may move once the date is announced. Consensus EPS forecast: $1.98 (8 analysts), vs $1.85 in the same quarter last year.
What time does AAPL report? Usually after market close: the last 4 results releases reached the SEC at 4:30 pm, 4:30 pm, 4:30 pm, 4:30 pm ET.
Last report: Jul 30, 2026 (Q3 2026) — broken down in the Sankey chart below. Dates and consensus: Nasdaq / Zacks Investment Research; companies do reschedule. Who else reports this week →
All figures in $M.
Revenue
$109,417
+16.4%
Gross profit
$54,770
+25.3%
50.1% margin
Operating income
$35,695
+26.6%
32.6% margin
Net income
$29,789
+27.1%
$2.02 diluted EPS
Verdict: an exceptionally strong quarter with revenue up 16% and net income up 27%, driven by broad-based double-digit growth in iPhone, Mac and Services across every geography, though about 2 points of gross margin and $0.11 of EPS were boosted by a one-time tariff refund benefit.
9-month operating cash flow $117.0B; buybacks $62.1B and dividends $11.8B (9-month); quarterly dividend declared $0.27/share payable 8/13/2026.
Source and notation
* marks non-cash / ≈ estimated. Source: Apple Inc. press release / 10-Q (SEC EDGAR).
Open the chart as a PNG image ↗ · for sharing and presentations · free to reuse, CC BY 4.0
AAPL earnings history: past report dates
| Jul 30, 2026 Thu | 4:30 pmafter market close | Jun 27, 2026 | $109B+16% y/y | $2.02+29% y/y |
| Apr 30, 2026 Thu | 4:30 pmafter market close | Mar 28, 2026 | $111B+17% y/y | $2.01+22% y/y |
| Jan 29, 2026 Thu | 4:30 pmafter market close | Dec 27, 2025 | $144B+16% y/y | $2.84+18% y/y |
| Oct 30, 2025 Thu | 4:30 pmafter market close | Sep 27, 2025 | ≈$102B+8% y/y | ≈$1.84+90% y/y |
| Jul 31, 2025 Thu | 4:30 pmafter market close | Jun 28, 2025 | $94.0B+10% y/y | $1.57+12% y/y |
| May 1, 2025 Thu | 4:30 pmafter market close | Mar 29, 2025 | $95.4B+5% y/y | $1.65+8% y/y |
| Jan 30, 2025 Thu | 4:30 pmafter market close | Dec 28, 2024 | $124B+4% y/y | $2.40+10% y/y |
| Oct 31, 2024 Thu | 4:30 pmafter market close | Sep 28, 2024 | ≈$94.9B+6% y/y | ≈$0.97−34% y/y |
How we count
Report date and time — when the company filed its results press release with the SEC (Form 8-K, Item 2.02); the regular session runs 9:30 am – 4:00 pm ET. Revenue and diluted EPS — the company’s XBRL filings, EPS adjusted for stock splits; ≈ — fourth quarter derived as full year minus three quarters. Source: SEC EDGAR.
Apple Inc.: 5-year financials
| FY2025 | 416,161 | 133,050 | 112,010 | 98,767 | 15,421 |
| FY2024 | 391,035 | 123,216 | 93,736 | 108,807 | 15,234 |
| FY2023 | 383,285 | 114,301 | 96,995 | 99,584 | 15,025 |
| FY2022 | 394,328 | 119,437 | 99,803 | 111,443 | 14,841 |
| FY2021 | 365,817 | 108,949 | 94,680 | 92,953 | 14,467 |
$ millions, annual 10-K reports on SEC EDGAR (US GAAP); the company’s fiscal year doesn’t match the calendar year so years follow the company’s own labels.
How we calculate
Figures are the annual report lines as filed, no adjustments. Free cash flow is operating cash flow minus capital expenditures; dividends are cash paid to common shareholders during the year. “—” means the line isn’t in the filing.
Corporate governance
1.5/2mostly good
How the company treats minority shareholders: 2 — well, 0 — systematically poorly.
More
- Mar 2024Apple agreed to pay $490M to settle an investor class action: Tim Cook denied weakening demand in China in November 2018, and in January 2019 the company cut its revenue guidance. bloomberg.com ↗
- May 2024In an 8-K, Apple disclosed a settlement of shareholder derivative suits tied to the same class action, In re Apple Inc. Securities Litigation (4:19-cv-02033). sec.gov ↗
- Oct 2025Per the FY2025 10-K, Apple has a single class of common stock; SBC of $12.9B = 3.1% of $416B revenue. sec.gov ↗
- Sep 2025Diluted share count fell 14.4% over FY2020–2025 on buybacks ($91B in FY2025); the dividend rose from $0.795 to $1.02 per share. data.sec.gov ↗
Scoring: 2.0 −0.5 (criterion 9: investor class action settled for $490M, 2024) = 1.5
- Share classes
- Single class of common stock (FY2025 10-K cover).
- Dilution
- No dilution: diluted shares −14.4% over FY2020–2025 (XBRL), SBC 3.1% of FY2025 revenue.
- Disclosure
- Full US GAAP reporting: 10-K and 10-Q filed on EDGAR on time.
- Dividends
- Dividend raised every year ($0.795 → $1.02 per share over FY2020–2025, XBRL); buybacks of $78–95B a year.
- Lawsuits & regulators
- Investor suit over Cook's 2018 statements on China demand settled for $490M in 2024 → −0.5; no SEC cases against the company; EU DMA fines and antitrust cases are industry-wide, no deduction.
- Related parties
- The 2026 proxy discloses no material related-party transactions; approval policy runs through the audit committee.
How the score works · checked as of Sep 2026
Apple Inc. (AAPL) earnings: FAQ
How does Apple make money?
Apple brought in $109 billion of revenue in Q3 2026, up 16.4% year over year. The largest source was iPhone: $54.3 billion, or 50% of the total, followed by Services ($30.7B, 28%) and Mac ($10.4B, 9%); other lines add the remaining 13%. Net income for the quarter was $29.8 billion, up 27.1% year over year.
When is AAPL's next earnings date?
Apple Inc. (AAPL) has not confirmed the date yet; Oct 29, 2026 is an estimate based on its past reporting schedule.
What time does AAPL report earnings?
Apple Inc. usually reports after market close: its latest results release was filed with the SEC at 4:30 pm ET on Jul 30, 2026.
When did AAPL last report earnings?
Apple Inc. reported Q3 2026 results on Jul 30, 2026.
What is the EPS estimate for AAPL's next earnings?
The consensus EPS forecast is $1.98 (8 analysts), vs $1.85 in the same quarter last year.
Where can I find Apple Inc.'s financial statements?
On SEC EDGAR: quarterly reports (10-Q), the annual report (10-K) and earnings releases (8-K). The “Verified” badge next to the chart links to AAPL's filings; this page breaks the latest report down in a Sankey chart.
What was AAPL's net income in Q3 2026?
Apple Inc. reported net income of $29,789M for Q3 2026 (+27.1% year over year), under US GAAP.
Does Apple Inc. pay dividends?
Yes. In fiscal 2025, Apple Inc. paid $15,421M in dividends on its common stock, per its 10-K. Earlier years are in the five-year table above.
New to earnings reports? Start with how to read an earnings report.
How this page was made: the figures come from the company's own report on SEC EDGAR; the summary and nuances were drafted by our model from that report. Figures checked against the filing on 08/25/2026. How we make the breakdowns · Report an error
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