Applied Materials Inc (NASDAQ:AMAT) reported first-quarter financial results for fiscal 2026 after the market close on Thursday. Here’s a look at the highlights from the print.
- Applied Materials shares are trending after earnings. Why is AMAT stock in focus?
Applied Materials Beats Estimates In Q1
Applied Materials reported fiscal first-quarter revenue of $7.01 billion, beating analyst estimates of $6.87 billion. The chip equipment manufacturer reported first-quarter adjusted earnings of $2.38 per share, beating analyst estimates of $2.20 per share, according to Benzinga Pro.
Total revenue was down 2% year-over-year. Gross margin was 49% in the first quarter, or 49.1% on an adjusted basis. The company generated $1.69 billion in cash from operations.
Applied Materials ended the quarter with approximately $7.22 billion in cash and cash equivalents.
“Applied Materials delivered strong results in our fiscal first quarter, fueled by the acceleration of industry investments in AI computing,” said Gary Dickerson, president and CEO of Applied Materials. “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.
Applied Materials Sees Continued Strength Ahead
Applied Materials expects second-quarter revenue of $7.65 billion, plus or minus $500 million, versus estimates of $7.01 billion. The company expects second-quarter adjusted earnings of $2.44 to $2.84 per share, versus estimates of $2.28 per share.
Applied Materials noted that with demand increasing for its products and services, the company is focused on ensuring it has the capacity to support customers. The company expects to grow its semiconductor equipment business by more than 20% this calendar year.
Applied Materials executives will further discuss the quarter on an earnings call with investors and analysts at 4:30 p.m. ET.
AMAT Stock Gets A Boost From Earnings
AMAT Price Action: Applied Materials shares were up 9.02% in Thursday’s after-hours session, trading at $358 at the time of publication, according to Benzinga Pro.
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