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Apple (Q3 Results): soft guide

A solid quarter for Apple was accompanied by a soft guide as supply chain challenges and higher input costs kick in.
Apple - iPhone sales drive record quarter

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Third-quarter revenue rose 16% to $109.4bn ($108.7bn expected). Growth was led by iPhone sales, which rose 22% to $54.3bn, helped by strength in Greater China, where total revenue also rose 22%. Services revenue increased 12% to $30.7bn.

Operating profit rose 27% to $35.7bn ($33.3bn expected), supported by strong revenue growth and a higher overall gross margin.

Free cash flow rose to $110.2bn over the first nine months, up from $72.3bn last year, supporting $62.1bn of share buybacks. Net cash, including longer-term securities, stood at $64.2bn.

For the coming quarter, Apple expects revenue growth of 9-11%, and gross margin between 47-48%.

The shares fell 6.9% in early trading.

Our view

HL view to follow.

Apple key facts

All ratios are sourced from LSEG Datastream, based on previous day’s closing values. Please remember yields are variable and not a reliable indicator of future income. Keep in mind key figures shouldn’t be looked at on their own – it’s important to understand the big picture.

This article is original Hargreaves Lansdown content, published by Hargreaves Lansdown. It was correct as at the date of publication, and our views may have changed since then. Unless otherwise stated estimates, including prospective yields, are a consensus of analyst forecasts provided by LSEG. These estimates are not a reliable indicator of future performance. Yields are variable and not guaranteed. Investments rise and fall in value so investors could make a loss.

This article is not advice or a recommendation to buy, sell or hold any investment. No view is given on the present or future value or price of any investment, and investors should form their own view on any proposed investment.

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Written by
Matt-Britzman
Matt Britzman
Senior Equity Analyst

Matt is a Senior Equity Analyst on the share research team, providing up-to-date research and analysis on individual companies and wider sectors. He is a CFA Charterholder and also holds the Investment Management Certificate.

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Article history
Published: 31st July 2026