Applied Materials posts record quarterly revenue of $10.41bn

Applied Materials reported record fiscal fourth-quarter revenue of $10.41 billion ($10,409 million) for the quarter ended 25 October 2026, up 53% from $6,800 million a year earlier. Record non-GAAP earnings per share reached $4.16, up 92% year on year from $2.17, beating Reuters' analyst average estimate of $4.05. GAAP EPS was $3.40, up 43%. The company also posted record full fiscal-year 2026 revenue of $34.45 billion, up 21%. Record quarterly free cash flow was $2.6 billion ($2,616 million), with cash from operations of $3.30 billion. GAAP gross margin was 50.4% and non-GAAP gross margin 50.6%, up 250 basis points. Record GAAP operating income reached $3.66 billion, or 35.1% of revenue. Semiconductor Systems revenue was $7,996 million, up 64% from $4,879 million a year earlier; Reuters described the segment as about $8 billion, up about 64%. The revenue mix was 33% DRAM (28% a year earlier), 58% foundry and logic (66%), and 9% flash (6%). China accounted for 25% of fiscal Q4 revenue versus 29% a year earlier, though China sales rose about 35% to $2.64 billion ($2,642 million versus $1,964 million). Applied Materials returned $2.42 billion to shareholders: $2.00 billion in share buybacks — the CFO said it was the largest quarterly share buyback in more than eight years — and $421 million in dividends. In the official release, CEO Gary Dickerson said the company is on track to grow Semiconductor Systems more than 40% in calendar 2026. For fiscal Q1 2027, Applied Materials guided revenue to $11.10 billion ± $500 million and non-GAAP EPS to $4.35 ± $0.20. Reuters, citing LSEG, put the analysts' average revenue estimate at $10.89 billion. CEO Gary Dickerson said on the post-earnings call that he expects 2027 to be another record year for the market and Applied, and that wafer fab equipment demand should rise more than 30%. Those call comments are his expectation, not company guidance. Shares were marginally higher in extended trading; Reuters said the stock had risen about 48% this year. Sources: Applied Materials official release (12 November 2026), Reuters via Investing.com (12 November 2026).