Did Apple beat earnings estimates in Q4 FY2026?

Yes. Apple reported EPS of $2.10 (up 14% YoY) on revenue of $114.5 billion, both topping Wall Street estimates of roughly $113.46 billion in revenue.

What was Apple's full fiscal year 2026 performance?

Fiscal 2026 revenue hit an all-time record of $478.8 billion, up 15% year over year, with double-digit EPS growth for the year.

What is the market reaction to Apple's Q4 report?

Shares slid in extended trading despite the headline beat, as investors focused on the disappointing margin outlook and China/iPad softness.

Earnings Recap: Apple (AAPL) Q4 FY2026 — Beat and Miss

Q: Why did Apple stock fall after beating estimates?

Apple missed on iPad sales and China revenue, and issued a weaker-than-expected gross margin forecast for the current quarter — its first earnings report under new CEO Ternus.

The Numbers

Metric	Actual	Estimate	Result
Revenue	$114.5B	~$113.46B	✅ Beat
EPS	$2.10	—	✅ Beat (+14% YoY)
FY2026 Revenue	$478.8B (record)	—	+15% YoY
Net Income	$30.7B (Sept-qtr record)	—	—

Guidance Update

Apple issued a weaker-than-expected gross margin forecast for the current quarter — the first earnings call under new CEO Ternus (succeeding Tim Cook’s leadership transition). Management framed the September quarter as a strong capstone to fiscal 2026, with CFO Kevan Parekh highlighting “all-time record revenue of $479 billion and double-digit EPS growth.”

What Happened

✅ Positives:

Revenue and EPS both beat consensus
Strong iPhone sales drove the topline beat
Record fiscal year revenue and September-quarter net income

⚠️ Concerns:

iPad sales missed estimates
China revenue missed estimates — an ongoing soft spot
Margin guidance for the next quarter disappointed investors
First report under new leadership adds uncertainty to forward read-through

Market Reaction

Shares slid in extended/after-hours trading despite the headline beat — a classic “sell the guidance, not the quarter” reaction. Investors are parsing whether the margin softness is transitory (mix shift, promotions) or structural under the new CEO’s early strategic choices.

Bottom Line

Apple delivered a clean top- and bottom-line beat to cap a record fiscal 2026, but China weakness and soft margin guidance under new leadership gave the market enough reason to fade the pop — watch for analyst day commentary on margin trajectory into FY2027.