AMAT Q1 2026 Earnings
Reported Feb 12, 2026 at 4:03 PM ET · SEC Source
Q1 26 EPS
$2.38
BEAT +7.84%
Est. $2.21
Q1 26 Revenue
$7.01B
BEAT +1.92%
Est. $6.88B
vs S&P Since Q1 26
-1.0%
TRAILING MARKET
AMAT +4.7% vs S&P +5.7%
Market Reaction
Did AMAT Beat Earnings? Q1 2026 Results
Applied Materials delivered a clean beat in fiscal Q1 2026, posting non-GAAP EPS of $2.38 against a consensus estimate of $2.21, a 7.84% positive surprise, while revenue of $7.01 billion topped expectations by 1.92% despite slipping 2.1% year over ye… Read more Applied Materials delivered a clean beat in fiscal Q1 2026, posting non-GAAP EPS of $2.38 against a consensus estimate of $2.21, a 7.84% positive surprise, while revenue of $7.01 billion topped expectations by 1.92% despite slipping 2.1% year over year. The headline driver was a notable mix shift within Semiconductor Systems, where record DRAM revenue pushed that segment's share to 34% of sales from 27% a year ago, reflecting accelerating demand tied to AI memory buildouts. Applied Global Services also contributed meaningfully, with revenue climbing to $1.56 billion and operating margins expanding more than 300 basis points to 28.1%. For a company with a long history of compounding shareholder value, the forward outlook added further weight to the results, with management guiding Q2 revenue to approximately $7.65 billion and non-GAAP EPS of roughly $2.64, while CEO Gary Dickerson projected the semiconductor equipment business would grow over 20% in calendar 2026, fueled by investment in leading-edge logic, high-bandwidth memory, and advanced packaging.
Key Takeaways
- • Acceleration of industry investments in AI computing
- • Record DRAM revenue in Semiconductor Systems (34% of segment revenue, up from 27% YoY)
- • Record services and spares revenue in Applied Global Services
- • High growth rates for leading-edge logic, high-bandwidth memory and advanced packaging
- • Taiwan revenue surged to $1.72 billion from $1.18 billion year over year
AMAT Forward Guidance & Outlook
For Q2 FY2026, Applied Materials expects total revenue of approximately $7.65 billion, plus or minus $500 million, and non-GAAP diluted EPS of approximately $2.64, plus or minus $0.20. The CEO expects to grow the semiconductor equipment business over 20% in calendar year 2026, driven by acceleration of industry investments in AI computing, leading-edge logic, high-bandwidth memory, and advanced packaging.
AMAT YoY Financials
Q1 2026 vs Q1 2025, source: SEC Filings
AMAT Revenue by Segment
With YoY comparisons, source: SEC Filings
AMAT Revenue by Geography
With YoY comparisons, source: SEC Filings
“Applied Materials delivered strong results in our fiscal first quarter, fueled by the acceleration of industry investments in AI computing. The need for higher performance and more energy-efficient chips is driving high growth rates for leading-edge logic, high-bandwidth memory and advanced packaging. These are areas where Applied is the process equipment leader, and we expect to grow our semiconductor equipment business over 20 percent this calendar year.”
— Gary Dickerson, Q1 2026 Earnings Press Release
AMAT Earnings Trends
AMAT vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
AMAT EPS Trend
Earnings per share: estimate vs actual
AMAT Revenue Trend
Quarterly revenue: estimate vs actual
AMAT Quarterly Results
4 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 BEAT | $2.21 | $2.38 | +7.84% | $7.01B | +1.92% |
| Q4 25 BEAT FY | $2.12 | $2.17 | +2.36% | $6.80B | +1.56% |
| FY Full Year | $9.35 | $9.42 | +0.73% | $28.37B | +0.37% |
| Q3 25 BEAT | $2.36 | $2.48 | +5.09% | $7.30B | +1.23% |
| Q2 25 BEAT | $2.31 | $2.39 | +3.45% | $7.10B | -0.33% |