Apple beat the Wall Street estimates reported by The Associated Press for its fiscal third quarter: revenue was $109.42 billion versus $109 billion expected, and diluted earnings per share (EPS) was $2.02 versus $1.89 expected. The result covers the three months ended June 27, 2026; Apple released it on July 30. Tariff refunds contributed $0.11 to EPS and about two percentage points to gross margin, so they are important context for the earnings beat.
How Apple’s results compared with expectations
The comparison below uses the FactSet analyst poll cited in The Associated Press’s July 30, 2026 report. Consensus estimates can differ by provider and polling time, so “beat expectations” here refers specifically to that reported poll.
| Measure | Apple reported | FactSet estimate cited by AP | Comparison |
|---|---|---|---|
| Revenue | $109.42 billion in Apple’s SEC filing; Apple’s release rounded it to $109.4 billion | $109 billion | Above estimate |
| Diluted EPS | $2.02 | $1.89 | Above estimate |
Sources: Apple’s July 30 results release, Apple’s Q3 2026 Form 10-Q, and The Associated Press’s July 30 report.
What period does Apple’s fiscal Q3 cover?
This was Apple’s fiscal 2026 third quarter, which the company calls its June quarter. It covered the three months ended June 27, 2026—not the calendar quarter ending June 30. Apple issued its results on July 30, and its Form 10-Q is dated July 31.
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Revenue and EPS grew year over year, with a tariff-refund caveat
Revenue rose 16% from $94.036 billion in the year-ago quarter to $109.42 billion. Diluted EPS increased 29%, from $1.57 to $2.02. Those are reported results, but the EPS increase should not be treated as entirely attributable to recurring operations: Apple said tariff refunds added $0.11 per diluted share and approximately two percentage points to its 50.1% gross margin.
Which parts of Apple’s business generated revenue?
Apple’s Form 10-Q reports the following net sales for the three months ended June 27, 2026, alongside the same categories for the year-ago quarter.
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| Category | Q3 FY2026 net sales | Year-ago net sales |
|---|---|---|
| iPhone | $54.252 billion | $44.582 billion |
| Mac | $10.352 billion | $8.046 billion |
| iPad | $6.191 billion | $6.581 billion |
| Wearables, Home and Accessories | $7.883 billion | $7.404 billion |
| Services | $30.739 billion | $27.423 billion |
| Total | $109.417 billion | $94.036 billion |
iPhone was the largest category, followed by Services. Apple said iPhone, Mac and Services each achieved June-quarter revenue records. The filing’s figures also show why it would be inaccurate to say every category grew: iPad sales were lower than a year earlier.
Sources: Apple’s Q3 2026 Form 10-Q and Apple’s results release.
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What Apple and the Associated Press said about the quarter
CEO Tim Cook said, “Today, Apple is proud to report our strongest June quarter ever, with double-digit revenue growth across iPhone, Mac and Services, and in every geographic segment.” CFO Kevan Parekh said, “We are very pleased with our record business performance during the quarter, which set new June quarter records for both EPS and operating cash flow.” These are company statements, not independent assessments.
The Associated Press also pointed to strong iPhone and Mac results and flagged rising memory costs and the non-repeatability of the tariff benefit as issues for coming quarters. Those points provide context rather than a company forecast.
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