Applied Materials Q1 FY2026 revenue $7.01B, down 2%; Q2 revenue guided to $7.65B

Applied reported fiscal first-quarter revenue of $7.01 billion, down 2% from a year earlier, with non-GAAP EPS of $2.38, flat year over year. GAAP EPS was $2.54, up 75%, and Semiconductor Systems revenue was $5,141 million while Applied Global Services reached $1,559 million. Guidance for fiscal Q2 is $7.65 billion of revenue plus or minus $500 million and non-GAAP EPS of $2.64 plus or minus $0.20. CEO Gary Dickerson said the company expects its semiconductor equipment business to grow more than 20% in calendar 2026.

• Revenue $7.01 billion, down 2% year over year
• Non-GAAP EPS $2.38, flat year over year; GAAP EPS $2.54, up 75%
• Q2 guidance: revenue $7.65B plus or minus $500M; non-GAAP EPS $2.64 plus or minus $0.20
• Semiconductor Systems $5,141M; Applied Global Services $1,559M
• Operating cash flow $1.69B; $702M returned to shareholders

SEC filing 8-K · accession 0001628280-26-007661 · sec.gov ↗