Companies /Technology

Applied Materials Inc

NASDAQ: AMAT Semiconductor Equipment & Materials
$454.01
▼ $14.84 (−3.17%) today
Markets closed · 6:59pm ET

Q2 2026 Earnings

Reported May 14, 2026, 4:03pm ET · SEC source
$2.86
Beat +6.56%
EPS · est. $2.68
$7.9B
Beat +2.85%
Revenue · est. $7.7B
+35.6%
Beating market
AMAT vs S&P since report
6 quarters
Consecutive EPS beats

Market Reaction

% change · around the report
−9%−6%−3%0May 14May 15report 4:03pm ETearnings−1.5%−7.9%
−9%−6%−3%0May 14May 15earnings−1.5%−7.9%
AMAT −7.9%S&P 500 −1.5%
−9%−6%−3%0May 14May 15report 4:03pm ETearnings−2.0%−7.9%
−9%−6%−3%0May 14May 15earnings−2.0%−7.9%
AMAT −7.9%NASDAQ −2.0%
−8%−4%0May 13May 22report 4:03pm ETearnings−0.3%−4.5%
−8%−4%0May 13May 22earnings−0.3%−4.5%
AMAT −4.5%S&P 500 −0.3%
−8%−4%0May 13May 22report 4:03pm ETearnings−0.4%−4.5%
−8%−4%0May 13May 22earnings−0.4%−4.5%
AMAT −4.5%NASDAQ −0.4%
−0.89%
Day of report
−5.28%
Next session
−1.02%
One week
+35.80%
30 days

S&P 500 over the same 30 days: +0.24%.

Did AMAT Beat Earnings? Q2 2026 Results

Applied Materials delivered a strong second-quarter fiscal 2026 performance, posting non-GAAP EPS of $2.86 against the $2.66 consensus estimate, a 7.52% beat that extended the chipmaking equipment giant's streak to four consecutive quarters of exceeding analyst expectations. Revenue of $7.91 billion grew 11.4% year over year, powered chiefly by the Semiconductor Systems segment, which generated $5.96 billion as AI-driven demand for high-bandwidth memory lifted DRAM's share of segment revenue to 29% while foundry and logic held a commanding 67%. Margin expansion accompanied the top-line growth, with Semiconductor Systems operating margins widening to 35.1% from 32.8% a year ago, and Applied Global Services contributing $1.67 billion at a 29.2% operating margin. Analysts have flagged Applied's advanced equipment positioning in next-generation architectures like Gate-All-Around transistors as a key long-term catalyst, a view the company reinforced by raising its full-year semiconductor equipment growth outlook to more than 30% for calendar 2026. For the third quarter, Applied guided revenue to approximately $8.95 billion and non-GAAP EPS of approximately $3.36, signaling continued momentum.

Key Takeaways
  • Rapid global build-out of AI computing infrastructure
  • Strong leadership positions in leading-edge logic, DRAM and advanced packaging
  • Foundry, logic and other representing 67% of Semiconductor Systems revenue
  • DRAM revenue mix increasing to 29% from 27% year over year
  • Non-GAAP gross margin expansion to 50.0% from 49.2% year over year
  • Non-GAAP operating margin expansion to 32.1% from 30.7% year over year

“Applied Materials delivered record quarterly performance, and we now expect our semiconductor equipment business to grow more than 30 percent in calendar 2026.”

Applied Materials CEO, on the earnings call

Forward Guidance & Outlook

For Q3 FY2026, Applied Materials expects total revenue of approximately $8.95 billion (+/- $500 million) and non-GAAP diluted EPS of approximately $3.36 (+/- $0.20). Management now expects the semiconductor equipment business to grow more than 30% in calendar 2026, driven by the rapid global build-out of AI computing infrastructure and Applied's strong positions in leading-edge logic, DRAM, and advanced packaging.

AMAT YoY Financials

Q2 2026 vs Q2 2025 · SEC filings Q2 2025 Q2 2026
$0$3.0B$6.0B$7.1B$7.9BRevenue$3.5B$3.9BGross Profit$2.2B$2.5BOperating Income$2.1B$2.8BNet Income
$0$3.0B$6.0BRevenueGross ProfitOperating IncomeNet Income

AMAT Revenue by Segment

Semiconductor Systems$6.0B+13.5%
Applied Global Services$1.7B+6.3%
Display
Other (including Display)$280.0M

AMAT Revenue by Geography

China$2.1B+17.6%
Taiwan$2.2B+7.9%
South Korea$1.6B+0.6%
United States$941.0M+16.5%
Japan$623.0M+8.9%
Europe$347.0M+37.7%
Southeast Asia$185.0M+37.0%

Figures from SEC filings and company reports. Not investment advice.