Applied Materials Q2 2026 Earnings Beat: Revenue $7.91B, EPS $2.86, Q3 Guide $8.95B — Semi Equipment Growth Raised to 30%

# Applied Materials Q2 2026 Earnings Beat: Revenue $7.91B, EPS $2.86, Q3 Guide $8.95B — Semi Equipment Growth Raised to 30%

> **Quick answer:** Applied Materials (AMAT) crushed Q2 FY2026 expectations on May 14, 2026. Revenue of $7.91 billion beat the $7.69B Wall Street consensus by 3%. Non-GAAP EPS of $2.86 beat the $2.68 estimate by 6.7%. Q3 guidance of $8.95B (midpoint) was well above expectations, and CEO Gary Dickerson raised the full-year 2026 semiconductor equipment market growth forecast from approximately 20% to more than 30%, citing an AI-driven accelerant that shows no sign of slowing.

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Applied Materials Q2 2026 earnings beat delivered exactly what bulls had been pricing in and then some. The Santa Clara-based semiconductor equipment giant posted record-breaking numbers on Thursday evening, May 14, capping a day that also saw the Dow close above 50,000 for the first time and Kevin Warsh confirmed as Federal Reserve Chair. For investors tracking the AI infrastructure buildout, AMAT's results are a real-time stress test of how deep and durable chip capex actually is.

## The Numbers: Q2 FY2026 Results vs. Consensus

Applied Materials Q2 2026 earnings beat landed across every major metric.