Apple Posts Record Q3 Earnings as iPhone 18 Price Rumors Swirl
Apple reported its third-quarter fiscal 2026 earnings on July 30, with revenue of $109.417 billion, up 16% year-over-year, and net profit of $29.789 billion, up 27%, a record for the April-June period. iPhone sales drove the growth, rising 22% to $54.252 billion, while Mac revenue climbed 29% to $10.352 billion and services, including the App Store and iCloud, grew 12% to $30.739 billion, both also setting records for the quarter. iPad sales fell 6% to $6.191 billion, and the wearables segment, which includes Apple Watch and AirPods, rose 6% to $7.883 billion. Revenue increased year-over-year in all regions, including the Americas, Europe, China, and Japan. CEO Tim Cook said the company saw double-digit growth in iPhone, Mac, and services, and revenue growth in every geographic segment. The active installed base of devices also reached all-time highs across all major product categories and regions, according to CFO Kevan Parekh. Despite the strong results, Apple's stock fell in after-hours trading after its July-September revenue forecast missed market expectations. The company also faces rising memory costs, which Cook said are expected to increase further, potentially impacting the business in September and beyond.