Applied Materials' second quarter revenue grew 11% to $7.91B, beating estimates on strong AI-driven demand.

Applied Materials reported second quarter results that exceeded analyst expectations for both revenue and earnings, driven by strong performance in its semiconductor equipment and services businesses. The company provided a significantly upgraded outlook for its semiconductor equipment business for the full calendar year.

Key Highlights

• Second quarter non-GAAP EPS grew 20% year-over-year to $2.86, beating estimates of $2.68.
• The Semiconductor Systems segment delivered revenue of $5.965 billion, an increase of 10% YoY, with notable strength in DRAM and Logic.
• Management now expects its semiconductor equipment business to grow more than 30% in calendar 2026, citing a rapid build-out of AI computing infrastructure.