Applied Materials Q2 FY2026 record revenue $7.91B; Q3 guided to $8.95B and 2026 outlook raised

Applied reported record fiscal second-quarter revenue of $7.91 billion, up 11% from a year earlier, with record GAAP EPS of $3.51 and non-GAAP EPS of $2.86, up 20%. Semiconductor Systems revenue was $5,965 million, up about 10%, and Applied Global Services was $1,665 million, up about 17%. Guidance for fiscal Q3 is $8.95 billion of revenue plus or minus $500 million and non-GAAP EPS of $3.36 plus or minus $0.20. Dickerson now expects the semiconductor equipment business to grow more than 30% in calendar 2026, up from the more than 20% he forecast in February.

• Revenue $7.91B, up 11% y/y; non-GAAP gross margin 50.0%
• GAAP EPS $3.51 (record, up 33%); non-GAAP EPS $2.86 (up 20%)
• Q3 guidance: revenue $8.95B plus or minus $500M; non-GAAP EPS $3.36 plus or minus $0.20
• Calendar 2026 semiconductor equipment growth now more than 30%
• Shareholder returns $765M: $400M buybacks and $365M dividends

SEC filing 8-K · accession 0001628280-26-035071 · sec.gov ↗