Apple quarter: revenue $109.4 billion, up 16% on a year earlier, with net income of $29.8 billion
Apple's 10-Q for the quarter ended June 27, 2026 reports total net sales of $109.4 billion, up from $94.0 billion a year earlier, with products contributing $78.7 billion and services $30.7 billion. Net income was $29.8 billion against $23.4 billion a year earlier; basic earnings per share rose to $2.03 from $1.57.
What Happened
Apple filed its quarterly report (10-Q) with the SEC on July 31 for the quarter ended June 27, 2026. The condensed consolidated statement of operations reports total net sales of $109,417 million — $78,678 million from products and $30,739 million from services — against $94,036 million in the year-ago quarter.
The Reported Numbers
For the quarter: gross margin $54,770 million; operating income $35,695 million (year-ago $28,202 million); net income $29,789 million (year-ago $23,434 million); basic earnings per share $2.03 (year-ago $1.57). Nine-month net sales reached $364,357 million with net income of $101,464 million. Research and development expense rose to $11,729 million for the quarter from $8,866 million a year earlier.
Why This Matters
A 16% revenue increase with a faster rise in operating income marks an acceleration for a company of Apple's size, and the R&D line — up roughly a third year on year — is the filing's clearest signal of where spending is being directed. Services at $30.7 billion continues to grow faster than products.
What Is Still Unresolved
A 10-Q states results; it does not give guidance. Product-level detail — which devices and services drove the quarter — is not in the condensed statements this article draws on.
What To Watch Next
The fiscal fourth-quarter report, and whether the R&D acceleration shows up in announced products.
Verification Status
Primary source: SEC EDGAR (https://www.sec.gov/Archives/edgar/data/320193/000032019326000020/aapl-20260627.htm). An official source is authoritative for what THAT party published; it does not by itself confirm third-party claims. Silence from other parties is never treated as denial.
Sources
Primary source: SEC EDGAR — https://www.sec.gov/Archives/edgar/data/320193/000032019326000020/aapl-20260627.htm
Disclaimer
For market-reference purposes only. Trading/investment decisions remain the user's responsibility.
Sources & evidence
- SEC EDGAR (official)
Primary source: SEC EDGAR. Live public-display equity pricing is not connected yet, so no equity price reaction is shown.
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