Applied Materials 2Q Profit, Sales Rise on Demand for Semiconductor Equipment

By Kelly Cloonan

Applied Materials logged higher profit and sales in its latest quarter as demand for artificial intelligence computing continues to rise.

The semiconductor-equipment maker on Thursday posted a fiscal second-quarter profit of $2.81 billion, or $3.51 a share, compared with $2.14 billion, or $2.63 a share, a year earlier.

Adjusted earnings per share were $2.86, compared with estimates of $2.68 a share according to analysts polled by FactSet.

Revenue climbed 11% year over year to $7.91 billion, compared with analyst estimates of $7.68 billion.

Chief Executive Gary Dickerson said the results mark a record quarterly performance, and the company expects its growth to continue alongside the rapid global buildout of AI computing infrastructure.

Applied Materials now expects its semiconductor equipment business to grow more than 30% this calendar year, Dickerson said, up from its prior forecast for an increase of more than 20%.

The company is focused on making sure it has the operations and supply chain to support its customers' growth, and has increased its build plan, inventory positions and logistics capacity, Chief Financial Officer Brice Hill added.

"The growth in AI that Applied has been investing for is now in full force," Hill said.

For the current fiscal third quarter, Applied Materials forecast adjusted per-share earnings of $3.36, plus or minus 20 cents, and revenue of $8.95 billion, plus or minus $500 million.

Analysts forecast adjusted earnings per share of $2.89 on revenue of $8.14 billion.

Write to Kelly Cloonan at kelly.cloonan@wsj.com

(END) Dow Jones Newswires

May 14, 2026 16:34 ET (20:34 GMT)