Apple Services Revenue Hits New Record of $31.6 Billion, up 10%, in September Quarter

Apple continued to see sales in its flagship iPhone family balloon, while the tech giant’s services business hit a new all-time high, in the first earnings report under CEO John Ternus.

The financial results were for Apple’s fiscal 2026 fourth quarter ended Sept. 26, 2026. Total iPhone revenue of $57.58 billion increased 17% and Apple’s Services segment revenue of $31.57 billion — a new record — was up 9.8%. The Services segment includes the App Store, Apple TV, Apple Music, Apple Pay, AppleCare, iCloud and advertising.

Ternus was Apple’s head of hardware before taking over the CEO role from Tim Cook as of Sept. 1. He said the tech giant is “closing the year with our most ambitious lineup yet,” citing the foldable iPhone Duo, alongside iPhone 18 Pro and iPhone 18 Pro Max. “We also just introduced a whole new generation of hardware for the home and brought Touch to Mac for the first time. Together with the all-new Siri AI, it’s an incredible lineup to carry us into the holiday season,” Ternus said.

Apple CFO Kevan Parekh said on the earnings call that it expects total revenue for the December 2026 quarter to increase 7%-10% on a year-over-year basis — lower than analyst forecasts. He said services revenue is projected to rise 8%-9% in the year-end 2026 quarter, indicating slower growth for the segment.