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Apple Posts Record Revenue, Forecasts Slower Growth, Names New CEO

8/1/2026

Summary

Story summary

Apple posted a record $109.4 billion revenue for fiscal Q3 2026, up 16 percent.
Net income rose to $29.8 billion, giving earnings per share of $2.02.
iPhone sales grew 22 percent to $54.25 billion, while Mac sales rose 29 percent to $10.35 billion.
Apple’s shares fell up to eight percent in after-hours trading on Thursday.
Apple forecast 9-11 percent revenue growth, below analysts’ 12 percent estimate, and said Tim Cook will become executive chairman in September, naming John Ternus CEO.

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Story summary

Apple posted a record $109.4 billion revenue for fiscal Q3 2026, up 16 percent.
Net income rose to $29.8 billion, giving earnings per share of $2.02.
iPhone sales grew 22 percent to $54.25 billion, while Mac sales rose 29 percent to $10.35 billion.
Apple’s shares fell up to eight percent in after-hours trading on Thursday.
Apple forecast 9-11 percent revenue growth, below analysts’ 12 percent estimate, and said Tim Cook will become executive chairman in September, naming John Ternus CEO.