Applied Materials: Net Income Surges 71% YoY, Full-Year Semiconductor Equipment Business Expected to Grow Over 20%

On February 12(EST), Applied Materials announced its first-quarter results for fiscal year 2026. During the first quarter ended January 25, 2026, the company reported revenue of $7.012 billion, down 2% year-over-year, and net income of $2.026 billion, up 71% year-over-year. Applied Materials attributed the strong first-quarter performance to accelerating industry investment in AI computing, with rising demand for higher-performance and more energy-efficient chips driving rapid growth in leading-edge logic, high-bandwidth memory, and advanced packaging technologies. As a leader in process equipment for these areas, the company expects its semiconductor equipment business to grow over 20% this calendar year and forecasts second-quarter revenue of $7.65 billion.