Apple Revenue Rises 12% as John Ternus Takes the Top Job

Apple's revenue rose 12% in its fiscal fourth quarter, beating Wall Street forecasts. The company announced the results on Monday, November 2, 2026, and it is the first set of numbers to come with John Ternus as chief executive.

The biggest driver was the iPhone. Sales reached $57.58 billion in the quarter, up 17% on a year earlier, according to Deadline. Apple also raised iPhone prices by $100, and that change affects what customers pay for the phone itself.

The quarter ran from late June to September 26, 2026. It included eight days of sales for the iPhone 18 Pro. The foldable iPhone Duo, which launched on October 23, arrived after the quarter closed, so its sales fall outside these figures.

Services, the part of Apple's business that covers subscriptions, app sales and other paid extras, brought in $31.57 billion. That was up 9.8%. Apple's television service, Apple TV, also had a good week in another arena: it won 28 Emmy Awards this year.

Not all of the headline growth came from customers. Apple's earnings per share were lifted by a tariff refund, a payment that returns import duties the company had already paid. That is a one-off boost, not a sign of how much a phone sells.

Apple had given a narrower outlook for this quarter in July. Bloomberg reported at the time that the company expected revenue growth of 9% to 11%, while analysts had estimated more than 12%. The 12% figure landed at the upper end of the company's own range and above the analyst estimate.

The new foldable phone had a problem to address. Apple acknowledged that the iPhone Duo can crack with normal use, and said the issue affected a small number of devices. The company did not say how many devices that was.

Ternus, who took over as chief executive, has been moving to reshape the company to speed up how quickly new products are developed, Bloomberg has reported. Apple's conference call on the results was scheduled for 2:00 p.m. Pacific time on the same day, and the company's full results release is on its investor site.

For the people who work on Apple's products and services, the numbers mean a busy build-up to the holiday season. For everyone else, the story is simpler. The phone business grew fast, the price went up, and the company now has a new leader to steer what comes next.