Apple Hits Record iPhone Revenue in Tim Cook's Final Earnings as CEO

Apple reported its highest-ever Q3 iPhone revenue at $54.25 billion, up 22 percent year-over-year, driving $109.4 billion in total revenue. Mac revenue climbed 29 percent to $10.35 billion. Tim Cook called the iPhone surge a steady wave of customer upgrades. The quarter was Cook's last as CEO; hardware engineering VP John Ternus takes over September 1, 2026.