Business & Finance · November 2, 2026
New CEO John Ternus delivers an Apple earnings beat — but China and iPad sales miss
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In his first earnings report since succeeding Tim Cook in September, Apple CEO John Ternus announced fiscal fourth-quarter revenue that exceeded Wall Street expectations. While overall revenue reached approximately $114.5 billion—driven by record September iPhone sales—the company faced challenges including a global shortage of memory chips and a slowdown in Services segment growth. Investors reacted to the report by trading the stock lower in after-hours sessions, specifically focused on margin pressures and a softer outlook for certain product categories like the iPad and sales in the Chinese market.
Read the original coverage
- Business InsiderMainstream
New CEO John Ternus delivers an Apple earnings beat — but China and iPad sales miss
Read at Business Insider ↗ - Financial TimesFinancial
Apple’s strong iPhone and Mac sales offset weaker performance in China
Read at Financial Times ↗ - New York PostTabloid
Apple beats revenue expectations in first earnings report under new CEO John Ternus
Read at New York Post ↗ - FortuneFinancial
Apple’s new CEO sees early wins, but the honeymoon is over | Fortune
Read at Fortune ↗
Reported by multiple outlets
- Apple reported fiscal fourth-quarter revenue that exceeded Wall Street estimates.
- John Ternus is the CEO of Apple, having taken over from Tim Cook in September.
- Apple experienced a global shortage of memory chips and other components during the period.
- iPhone sales set a record for the September quarter.
- The company's stock price declined in after-hours trading following the report.
Reported by only some outlets
- Apple's total revenue was $114.5 billion, representing a 12% increase from the previous year.
- iPhone revenue reached $57.58 billion, surpassing the estimated $56.54 billion.
- The iPad segment and Greater China region reported sales that missed analyst expectations.
- Apple recently raised prices on Macs and iPads due to component costs.
- The Chief Financial Officer and Chief Operating Officer participated in the earnings call alongside the CEO.
- Apple's market capitalization is approximately $4.9 trillion.
Industry-friendly coverage frames it as…
emphasize the revenue beat, record-setting iPhone sales, and the successful navigation of supply chain challenges under new leadership
Skeptical / consumer coverage frames it as…
highlight the stock's after-hours decline, pressured profit margins, slowing services growth, and the CEO's 'scripted' performance during the earnings call
Numbers that differ
- Actual Revenue: Business Insider reports $114.5 billion; New York Post reports $114.48 billion.
- Expected Revenue: Business Insider reports $113.46 billion; New York Post reports $113.39 billion.
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CadNews does not determine absolute truth or endorse political viewpoints. It compares publicly available reporting, identifies shared facts, highlights framing differences, and flags uncertainty.