Applied Materials Q2 FY2026: Record revenue $7.91B, EPS $3.51 GAAP, $2.86 non-GAAP

APPLIED MATERIALS INC /DE

Revenue $7.91B (+11% YoY); GAAP EPS $3.51 (+33%), non-GAAP EPS $2.86 (+20%).
GAAP gross margin 49.9% (up 0.8 pts); non-GAAP gross margin 50.0%.
CEO expects semiconductor equipment business to grow more than 30% in calendar 2026.
Distributed $765M to shareholders: $400M in buybacks and $365M in dividends.
Free cash flow $210M, down 80% from $1.06B a year earlier.

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