Key Highlights

● Net sales were $109.4 billion, up about 16% from $94.0 billion.

● Gross margin was 50.1%, including about two points from tariff refunds.

● iPhone sales were $54.3 billion, compared with $44.6 billion.

● The board declared a quarterly dividend of $0.27 per share.

Apple Inc. (NASDAQ:AAPL), whose common stock trades on The Nasdaq Stock Market under the symbol AAPL, reported results for its fiscal third quarter on 30 July 2026. The quarter ended on 27 June 2026.

Net sales were $109.4 billion, compared with $94.0 billion in the same quarter of fiscal 2025, a rise of about 16 per cent. Products contributed $78.7 billion and services $30.7 billion, the latter up roughly 12 per cent. Net income reached $29.8 billion, or $2.02 per diluted share, against $23.4 billion and $1.57 a year earlier. Operating income was $35.7 billion.

Where the Growth Came from

The iPhone remained the largest line, with sales of $54.3 billion compared with $44.6 billion. Mac revenue climbed to $10.4 billion from $8.0 billion, while iPad slipped from $6.6 billion to $6.2 billion. Wearables, Home and Accessories edged up to $7.9 billion.

Geographically, every reporting segment grew. Greater China rose to $18.8 billion from $15.4 billion, Europe to $29.4 billion from $24.0 billion, and the Americas to $45.8 billion from $41.2 billion. Japan and the Rest of Asia Pacific also advanced. Management described it as the strongest June quarter on record and said the installed base of active devices had reached an all-time high across major product categories.

The Tariff Refund Effect

Gross margin was 50.1 per cent, and the company stated that roughly two percentage points of that came from tariff refunds. Diluted earnings per share included a further $0.11 from the same source. Part of the improvement is therefore a one-off rather than an indication of the underlying run rate. Stripping out the refunds would leave margin nearer 48 per cent, which remains healthy but is a more modest picture.

Operating costs also rose. Research and development spending increased to $11.7 billion from $8.9 billion, reflecting heavier investment in artificial intelligence, while selling, general and administrative expenses were $7.3 billion. The chief executive pointed to the launch of a redesigned Siri at the June developer conference.

Cash Generation and Capital Returns

Over the first nine months of fiscal 2026, net sales totalled $364.4 billion and net income $101.5 billion, with diluted earnings per share of $6.88. Operating cash flow was $117.0 billion, compared with $81.8 billion a year before. Apple spent $62.1 billion on share repurchases and $11.8 billion on dividends over that period, both lower or broadly flat on the prior year.

At 27 June 2026 the company held $39.5 billion in cash and cash equivalents plus about $107.0 billion in marketable securities, against term debt of about $82.3 billion and commercial paper of $2.0 billion. The board declared a quarterly dividend of $0.27 per share, payable on 13 August 2026 to holders of record on 10 August.

Refunds May Not Recur, but the June Quarter Sets a High Bar

The release contains no formal revenue, margin or earnings guidance. Tariff refunds may not recur, and spending on artificial intelligence could keep pressuring operating expenses. Currency movements and regional demand, particularly in Greater China, also warrant attention.

The next scheduled disclosure is the annual report for fiscal 2026, which would cover the year ending in late September.