Applied Materials Q1 revenue $7.01B (-2% YoY); GAAP EPS $2.54 (+75%), non-GAAP flat; record DRAM/services

APPLIED MATERIALS INC /DE

2026-Q1 EPS reported $2.54 revenue$7,012,000,000

Revenue $7.01B, down 2% YoY; GAAP net income $2.026B (EPS $2.54) vs $1.185B ($1.45) prior year.
Non-GAAP EPS $2.38, flat YoY; non-GAAP gross margin 49.1%, operating margin 30.0%.
Semiconductor Systems achieved record DRAM revenue; Applied Global Services record services and spares revenue.
Cash from operations $1.69B; returned $702M via $337M buybacks and $365M dividends.
CEO expects semicon equipment business to grow over 20% in calendar 2026; CFO notes capacity expansion.

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