Earnings Call
Aug 13, 2026
Q3 FY2026
EPS Estimate
3.40
EPS Actual
3.50
Post-Earnings Close
$507.18
Earnings Reaction
-5.1%
Applied Materials shattered expectations in fiscal Q3 2026, reporting record revenue of $9.1 billion, up 15% sequentially and 25% year-over-year, and non-GAAP EPS of $3.50, well ahead of the $3.36, $3.40 consensus and the company's own guide midpoint. The beat was broad-based: semiconductor systems hit a record $7.0 billion (up 18% sequentially, 27% year-over-year), Applied Global Services reached a record $1.8 billion (up 22% year-over-year), and non-GAAP operating margin expanded to a record 34%, up 330 basis points year-over-year. This marks the 13th consecutive quarter of year-over-year gross margin expansion, with company-level non-GAAP gross margin reaching 50.4% and semiconductor systems gross margin crossing 55.4%. Operating cash flow exceeded $3 billion for the quarter.
Report generated on Aug 14, 2026
AI-generated earnings analysis. Not investment advice.
Chief Executive Officer
The quarter's results reflected a combination of company-specific execution and broader sector dynamics, with management addressing several of the key debates that analysts had flagged heading into the print. Guidance commentary pointed to continued momentum in the core segments, while questions on margins and capital allocation drew more nuanced responses from the leadership team over the course of the call.
The quarter's results reflected a combination of company-specific execution and broader sector dynamics, with management addressing several of the key debates that analysts had flagged heading into the print. Guidance commentary pointed to continued momentum in the core segments, while questions on margins and capital allocation drew more nuanced responses from the leadership team over the course of the call.
The quarter's results reflected a combination of company-specific execution and broader sector dynamics, with management addressing several of the key debates that analysts had flagged heading into the print. Guidance commentary pointed to continued momentum in the core segments, while questions on margins and capital allocation drew more nuanced responses from the leadership team over the course of the call.
Read the full AMAT analysis
The complete report, with key themes, analyst Q&A summary, notable quotes, and market context — is free with an account. No password, no card.