First Quarter for Apple's New CEO: Beats Forecasts, Disappoints in iPad and China

Apple reported results for the fourth quarter of 2026, the first quarter under CEO John Ternus. The company beat expectations with revenue of $114.48 billion (12% growth), but disappointed in revenue from China ($17.5 billion vs. expected $18.5 billion) and iPad sales, which fell more than 10%. Apple's stock dropped about 1% in after-hours trading.

Apple reported its financial results for the fourth quarter of fiscal 2026, the first quarter under new CEO John Ternus. The company beat analyst expectations with revenue of $114.48 billion, 12% growth year-over-year, and earnings per share of $2.10 versus an expected $1.99. However, Apple disappointed in two key segments: revenue from China stood at $17.5 billion, below the forecast of $18.5 billion, and iPad sales contracted more than 10% to $6.22 billion. Apple's stock fell about 1% in after-hours trading, even though the company surpassed Nvidia in market value, standing at $4.938 trillion. The quarter included strategic launches such as the foldable iPhone, a collaboration with Meta on artificial intelligence, and a $5.7 billion patent infringement verdict against the company.