Applied Materials, Inc. announced its financial results for the first quarter ended January 25, 2026, reporting revenue of $7.01 billion and providing guidance for the second quarter of fiscal 2026. The company highlighted strong performance in its Semiconductor Systems and Applied Global Services segments, driven by industry investments in AI computing.
Key takeaways
Revenue for Q1 FY2026 was $7.01 billion, down 2% year over year.
GAAP diluted EPS was $2.54, up 75% year over year, while non-GAAP diluted EPS was $2.38, flat year over year.
Semiconductor Systems segment achieved record DRAM revenue, with total segment revenue of $5.14 billion.
Applied Global Services segment delivered record services and spares revenue, with total segment revenue of $1.56 billion.
The company generated $1.69 billion in cash from operations and distributed $702 million to shareholders through share repurchases and dividends.
Guidance for Q2 FY2026 projects total revenue of $7.65 billion +/- $500 million and non-GAAP diluted EPS of $2.64 +/- $0.20.