● Covered by 2 sources · 3 reportsHigh impact1 negative2 neutral
Apple Reports Q3 2026 Earnings: $109.4 Billion Revenue, Stock Drops on Supply Concerns
Key points
- Q3 2026 revenue was $109.4 billion, up 16% year-over-year.
- Net profit for the quarter was $29.8 billion, with EPS at $2.02.
- iPhone revenue increased by 22% to $54.3 billion.
- Services revenue was $30.7 billion, showing a slowdown in growth.
- Apple's stock dropped 10% due to supply chain warnings and Services growth concerns.
Q3 2026 Financial Overview
Apple announced its financial results for the third fiscal quarter of 2026, reporting total revenue of $109.4 billion. This represents a 16% increase compared to the $94.04 billion reported in the same quarter last year. Net profit for the quarter reached $29.8 billion, with earnings per share at $2.02.
Product and Services Performance
iPhone revenue stood at $54.3 billion, driven by a 22% increase in sales. Mac revenue was $10.4 billion, with the MacBook Neo cited as a contributing factor to strong performance in some regions. iPad revenue was $6.2 billion, and Wearables, Home, and Accessories generated $7.9 billion. Services revenue reached $30.7 billion, though its growth rate slowed compared to previous periods.
Market Reaction and Concerns
Following the earnings report, Apple's stock experienced a decline of approximately 10%, wiping out an estimated $430 billion from its market value. This drop was primarily attributed to investor concerns regarding a slowdown in Services growth, partly due to mobile gaming weakness and App Store model changes. Additionally, Apple warned of significantly worsening supply constraints for iPhone, iPad, and Mac in the upcoming September quarter, citing tight chip manufacturing and rising memory prices.
Outlook and Challenges
The company's CFO, Kevan Parekh, indicated that the impact of supply shortages would increase significantly from the June quarter. These anticipated challenges, including memory price increases and supply chain issues, contributed to a cautious reception of the earnings report despite the overall revenue and profit growth.
✨ This summary was generated by AI from the outlets' reporting listed below. It is not independently verified and may contain errors — check the original sources. How BrevFeed works →
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How outlets covered it
Apple's stock fell by approximately 10% following its Q3 2026 earnings report, despite revenue and profit increases, due to concerns over slowing Services growth and worsening supply chain constraints. This decline wiped out $430 billion from its market value and caused it to fall behind Nvidia in valuation.
Apple reported Q3 2026 earnings with a 22% increase in iPhone sales, contributing to $54.25 billion in revenue, while services revenue declined to $30.74 billion. The company's overall revenue reached $109.42 billion, but concerns about rising memory prices and supply constraints are expected to impact future quarters.
Apple announced its third fiscal quarter 2026 earnings, reporting $109.4 billion in revenue, a 16% increase from the previous year. This financial performance indicates continued growth across multiple product and service categories for the company.