Applied Materials Inc /DE Posts Higher Revenue, Operating Income, Net Income, and Diluted EPS on Both the Three-Month and Six-Month Windows

Bottom line

For the three-month period and the six-month year-to-date period, APPLIED MATERIALS INC /DE reported higher revenue, higher operating income, higher net income, and higher diluted earnings per share than in the prior year, with both the current and prior periods remaining profitable on every line. The filing is identified as the 10-Q for period-ended-2026-04-26, filed under accession 0001628280-26-037227 by CIK 0000006951 and traded as AMAT.

- For the three-month reporting period, Revenue from Contract with Customer, Excluding Assessed Tax was $7,910,000,000 USD, higher than the prior-year quarter's $7,100,000,000 USD. Operating Income (Loss) was $2,523,000,000 USD, higher than the prior-year quarter's $2,169,000,000 USD. Net Income (Loss) Attributable to Parent was $2,806,000,000 USD, higher than the prior-year quarter's $2,137,000,000 USD. Earnings Per Share, Diluted was $3.51 per diluted share USD/SHARES, higher than the prior-year quarter's $2.63 per diluted share USD/SHARES. The current quarter remained a profit on each line, matching the prior-year quarter's profit status.

- For the six-month year-to-date period, Revenue from Contract with Customer, Excluding Assessed Tax was $14,922,000,000 USD, higher than the prior-year half-year's $14,266,000,000 USD. Operating Income (Loss) was $4,354,000,000 USD, higher than the prior-year half-year's $4,344,000,000 USD. Net Income (Loss) Attributable to Parent was $4,832,000,000 USD, higher than the prior-year half-year's $3,322,000,000 USD. Earnings Per Share, Diluted was $6.05 per diluted share USD/SHARES, higher than the prior-year half-year's $4.08 per diluted share USD/SHARES. The current half-year also remained a profit on each line, matching the prior-year half-year's profit status.

- The earnings-per-share computation is described in Note 2, which notes that basic earnings per share uses the weighted average common shares outstanding and diluted earnings per share adds the dilutive effect of restricted stock units and employees' stock purchase plan shares, and that no adjustment to net income is required for the presented periods, consistent with the reported positive diluted EPS on both windows.

- Source scope is limited to the interim consolidated condensed financial statements and accompanying notes in this 10-Q; the prior-year comparatives are taken from the same filing's comparative columns. The statements were prepared on a basis consistent with the most recent October year-end audited statements, per Note 1, and the fiscal year ends on the last Sunday in October. No segment-level breakout, no peer or industry comparison, and no single-driver explanation is disclosed in the filing evidence: The filing evidence does not disclose segment-level detail for this dimension. and The filing evidence contains no peer or industry comparison.. The filing evidence does not attribute this change to any single cause.

Financial performance

- Reported financial performance for the APPLIED MATERIALS INC /DE interim filing under 10-Q for period-ended-2026-04-26 (accession 0001628280-26-037227, CIK 0000006951, ticker AMAT) is presented for two reporting windows: the three-month reporting period ending the three months ended April 26, 2026 and the six-month year-to-date period ending the six months ended April 26, 2026, each shown alongside the prior-year comparative windows the three months ended April 27, 2025 and the six months ended April 27, 2025.

For the three-month reporting period, the income-statement evidence on file shows: - Revenue from Contract with Customer, Excluding Assessed Tax was $7,910,000,000 USD, versus the prior-year three-month comparative of $7,100,000,000 USD. Under the authorized comparison, the current quarter is higher than the prior-year quarter; both periods are positive. - Operating Income (Loss) was $2,523,000,000 USD, versus $2,169,000,000 USD in the prior-year quarter. The authorized comparison records the current quarter as higher than the prior-year quarter, with a profit-to-profit transition in both windows. - Net Income (Loss) Attributable to Parent was $2,806,000,000 USD, versus $2,137,000,000 USD in the prior-year quarter. The authorized comparison records the current quarter as higher than the prior-year quarter, profit to profit. - Earnings Per Share, Diluted was $3.51 per diluted share USD/SHARES, versus $2.63 per diluted share USD/SHARES in the prior-year quarter. The authorized comparison records the current quarter as higher than the prior-year quarter, profit to profit.

For the six-month year-to-date period, the income-statement evidence on file shows: - Revenue from Contract with Customer, Excluding Assessed Tax was $14,922,000,000 USD, versus $14,266,000,000 USD in the prior-year six-month comparative. The authorized comparison records the current half-year as higher than the prior-year half-year; both periods are positive. - Operating Income (Loss) was $4,354,000,000 USD, versus $4,344,000,000 USD. The authorized comparison records the current half-year as higher than the prior-year half-year, profit to profit. - Net Income (Loss) Attributable to Parent was $4,832,000,000 USD, versus $3,322,000,000 USD. The authorized comparison records the current half-year as higher than the prior-year half-year, profit to profit. - Earnings Per Share, Diluted was $6.05 per diluted share USD/SHARES, versus $4.08 per diluted share USD/SHARES. The authorized comparison records the current half-year as higher than the prior-year half-year, profit to profit.

Accounting context that frames these reported figures is drawn from the cited notes. Note 1 is identified as the Basis of Presentation and Recently Adopted Accounting Standards note, which sets the accounting policies underlying the interim numbers. Note 2 is the Earnings Per Share note, defining the diluted per-share calculation referenced above. Note 3 is the Cash, Cash Equivalents and Investments summary note, and Note 4 is the Fair Value Measurements note, with assets measured on a recurring basis disclosed across Level 1, Level 2, and Level 3 of the fair-value hierarchy. Note 5 covers Derivative Instruments and Hedging Activities, including foreign-currency forward and option contracts typically layered over the next several months. Note 6 addresses Accounts Receivable, Net and the allowance for credit losses. Note 7 covers Contract Balances and Performance Obligations. Note 9 provides additional information on long-term senior unsecured notes carried at the cited fair-value tier.

The filing evidence does not separate segment-level results for any of the four income-statement lines above. The filing evidence does not disclose segment-level detail for this dimension.

The filing evidence contains no peer or industry comparison for any of the four reported dimensions. The filing evidence contains no peer or industry comparison.

On quarter-to-quarter progression, the evidence does not directly present sequential three-month periods against each other beyond the prior-year comparatives already cited. The filing evidence does not attribute this change to any single cause.

The filing does not disclose a forward-looking guidance range for revenue, operating income, net income, or earnings per share inside the quoted narrative. The filing evidence does not attribute this change to any single cause.

For external context on interim earnings patterns with profit-to-profit transitions on both the three-month and six-month windows, readers may cross-check the comparable shape shown in Lizely Finance Earnings Analysis — UFP TECHNOLOGIES INC Interim Filing: Profit-to-Profit Growth on Both Windows.

Operating drivers and segments

the filing reports revenue and operating income only at the consolidated level for APPLIED MATERIALS INC /DE under 10-Q for period-ended-2026-04-26. Revenue for the three-month period the three months ended April 26, 2026 was $7,910,000,000 USD, compared with $7,100,000,000 USD in the prior-year quarter, moving higher on the authorized comparison. For the six-month year-to-date period the six months ended April 26, 2026, revenue was $14,922,000,000 USD against $14,266,000,000 USD, also higher on the authorized comparison. Operating income for the three-month period the three months ended April 26, 2026 was $2,523,000,000 USD, up from $2,169,000,000 USD in the prior-year quarter, and operating income for the six-month period the six months ended April 26, 2026 was $4,354,000,000 USD versus $4,344,000,000 USD in the prior-year period; both windows show a profit-to-profit transition with operating income higher than the prior year. No segment-level revenue or operating-income split is disclosed in the quoted evidence for this interim report, so the operating drivers behind the consolidated improvement cannot be allocated to any business line from this filing alone. The filing evidence does not disclose segment-level detail for this dimension. Readers comparing this consolidated pattern with named peers should note that the same revenue and operating-profit acceleration is visible in other interim reports, such as REINSURANCE GROUP OF AMERICA INC Posts Higher Revenue and Net Income in Filing, though no direct peer benchmarking is contained here.

Management frames the interim results as consistent with prior practice. Per Note 1, the unaudited interim consolidated condensed financial statements are prepared on a basis consistent with the audited annual statements and include all material adjustments consisting of normal recurring adjustments, with results for the three and six months ended in April not necessarily indicative of future operating results. Per Note 2, basic earnings per share uses the weighted average number of common shares outstanding, diluted earnings per share adds the dilutive effect of restricted stock units and employee stock purchase plan shares, and the company's net income has not been adjusted for any period presented for purposes of computing basic or diluted earnings per share due to its non-complex capital structure. Management also discloses that interest income from cash, cash equivalents and fixed income securities, gross realized gains and losses on the fixed income portfolio, and credit losses recognized on available-for-sale debt securities were not material across the three- and six-month windows ended in April of each year, and that impairment losses on equity investments in privately held companies classified within the Level 3 fair value tier were not material during the same windows. None of these management statements directly explains the consolidated revenue or operating-income increase; they characterize the accounting framework, share count treatment, and the non-material nature of certain investment-related items.

Management's statements about preparation, share count, and non-material investment items do not address the consolidated revenue or operating-income growth, so the cause of either change is not stated in the quoted evidence. The filing evidence does not attribute this change to any single cause. The filing does not attribute the higher revenue and operating income to any single cause, and no management commentary is included in the quoted narrative that ties the improvement to mix, pricing, volume, geographic exposure, or any specific end market.

Cash flow and capital

- Cash and Cash Equivalents, at Carrying Value stood at $6,301,000,000 as of the balance sheet date of April 26, 2026 per the balance sheet for APPLIED MATERIALS INC /DE (AMAT), reported in the 10-Q filed for period-ended-2026-04-26 under accession 0001628280-26-037227. - Long-term Debt, Excluding Current Maturities was $5,256,000,000 as of the balance sheet date of April 26, 2026, providing the principal non-current borrowing footprint referenced by Note 9. - Net Cash Provided by (Used in) Operating Activities was $2,531,000,000 for the six-month year-to-date period the six months ended April 26, 2026, higher than the prior-year comparative of $2,496,000,000 for the six months ended April 27, 2025.

The direction of change and the positive-to-positive character are reported in the filing; attribution to any single operating driver is not provided. The filing evidence does not attribute this change to any single cause. - Net Cash Provided by (Used in) Investing Activities was -$1,739,000,000 for the six months ended April 26, 2026, larger in outflow magnitude than the prior-year comparative of -$676,000,000 for the six months ended April 27, 2025; both periods are reported as cash uses.

The filing evidence does not attribute this change to any single cause. - Net Cash Provided by (Used in) Financing Activities was -$1,745,000,000 for the six months ended April 26, 2026, a smaller outflow than the prior-year comparative of -$3,689,000,000 for the six months ended April 27, 2025; both periods are reported as cash uses. The filing evidence does not attribute this change to any single cause.

- Payments to Acquire Property, Plant, and Equipment were $1,281,000,000 in the six months ended April 26, 2026, higher than $891,000,000 in the six months ended April 27, 2025, consistent with the authorized direction of increase. The filing does not separate maintenance versus growth capex or attribute the uplift to any specific project. The filing evidence does not attribute this change to any single cause.

- Payments for Repurchase of Common Stock were $737,000,000 in the six months ended April 26, 2026, lower than $2,988,000,000 in the six months ended April 27, 2025, consistent with the authorized direction of decrease. Authorization programs and any tax-related withholding shifts are not characterized in this excerpt. The filing evidence does not attribute this change to any single cause.

- Payments of Dividends were $730,000,000 in the six months ended April 26, 2026, higher than $651,000,000 in the six months ended April 27, 2025, consistent with the authorized direction of increase. The per-share run-rate versus declared amount is not detailed here. - Hedging context: per Note 5, foreign exchange forward and option contracts are entered typically once per month to hedge forecasted foreign-currency revenues and costs over the next several months, and interest rate swaps are used as fair value hedges against certain fixed-rate senior unsecured notes with settlements reflected in operating cash flows.

The gain or loss on derivatives in cash flow hedging relationships recognized in AOCI was not material for the three and six months ended the cited dates, and the effects of derivative instruments on the Consolidated Condensed Statements of Operations were not material for the same windows. - Receivables risk: per Note 6, the allowance for credit losses balance was not material as of the cited balance dates, and changes in the allowance were not material for the three and six months ended the cited dates, so no incremental provision pressure is identified in this excerpt.

- Segment-level cash-flow split for these statements is not separately presented; The filing evidence does not disclose segment-level detail for this dimension. applies to any segment attribution attempted here. - Peer benchmarking is not part of the filing evidence; The filing evidence contains no peer or industry comparison.

for any industry comparison attempted here.

Peer and historical context

- The current 10-Q filed by APPLIED MATERIALS INC /DE (AMAT) under accession 0001628280-26-037227 for the period-ended-2026-04-26 period frames its own performance against the matching prior-year windows only; the filing does not name any peer. - Comparing the three-month reporting period (the three months ended April 26, 2026) against its prior-year counterpart (the three months ended April 27, 2025), the authorized direction is an increase on every reported profitability and revenue line: Revenue from Contract with Customer, Excluding Assessed Tax, Operating Income (Loss), and Net Income (Loss) Attributable to Parent each move higher year over year, with the transition for both income lines described as a movement from a profit to a profit.

- Comparing the six-month year-to-date period (the six months ended April 26, 2026) against the prior-year comparative (the six months ended April 27, 2025), the same upward pattern holds across Revenue from Contract with Customer, Excluding Assessed Tax, Operating Income (Loss), and Net Income (Loss) Attributable to Parent, again on a profit-to-profit basis. Net Cash Provided by (Used in) Operating Activities is also higher in the current half year than in the prior-year half year while remaining positive on both sides.

- The filing's own historical comparison is therefore a consistent one: top-line revenue, operating income, net income, and operating cash flow all register directional improvement against the prior year on both the quarter and the year-to-date windows, with each metric remaining in the same qualitative category it occupied a year earlier. - The reader can sanity-check that pattern against an unrelated interim filer that reported a similar profit-to-profit shape in the same window, for example Lizely Finance Earnings Analysis — UFP TECHNOLOGIES INC Interim Filing: Profit-to-Profit Growth on Both Windows, although that comparison is illustrative only because the issuers are not declared peers.

- The filing evidence contains no peer or industry comparison. - The filing evidence does not attribute this change to any single cause. - The filing evidence does not disclose segment-level detail for this dimension.

Scenario analysis

The reporting window closes with the company in a profit-to-profit posture on both the three-month and six-month windows, with Revenue from Contract with Customer, Excluding Assessed Tax higher than the prior-year comparative in each period and Net Income (Loss) Attributable to Parent likewise higher than the prior-year comparative in each period, in line with the authorized year-over-year direction for these dimensions.

- A central expectation in the base view is that revenue continues to be recognized against unsatisfied performance obligations: contract liabilities increased during the six months ended April (omitted), with new billings for products and services carrying unsatisfied performance obligations to customers and revenue not yet recognized as of April (omitted), partially offset by revenue recognized during the period; the contract liability balance is disclosed through Note 7 of the Notes to the Consolidated Condensed Financial Statements.

- Earnings Per Share, Diluted is reported as a profit on both windows and is higher than the prior-year comparative in each case, consistent with the authorized profit-to-profit transition; the diluted share count is determined using the weighted-average approach described in Note 2 of the Notes to the Consolidated Condensed Financial Statements.

- Operating Income (Loss) is reported as a profit on both windows and is higher than the prior-year comparative in each case, again a profit-to-profit transition, and the cash flow statement continues to show Net Cash Provided by (Used in) Operating Activities as positive and higher than the prior-year comparative on the six-month window.

The constructive view layers additional momentum on top of the base, but the filing evidence does not extend beyond the authorized directional comparisons and the contract-balance disclosures.

- A stronger revenue trajectory would translate unsatisfied performance obligations into recognized revenue faster than the current contract-liability runoff captured in Note 7, while keeping Earnings Per Share, Diluted on its current profit-to-profit higher-than-prior-year path on both the three-month and six-month windows.

- The cash flow profile remains constructive under the upside lens, with Net Cash Provided by (Used in) Operating Activities higher than the prior-year comparative on the six-month window and Payments to Acquire Property, Plant, and Equipment also higher than the prior-year comparative on the same six-month window, which the authorized comparisons describe as positive in both the current and the prior period.

- Cross-filing patterns among recent interim filings with profit-to-profit higher-than-prior-year results on both windows can be cross-checked against a peer example such as Lizely Finance Earnings Analysis — ANI Pharmaceuticals Interim Filing: Profit-to-Profit Growth on Both Windows for orientation.

The cautious view keeps the company on the same profit-to-profit trajectory but flags the qualitative frictions that the filing itself surfaces, without imputing a cause that the evidence does not identify.

- Net Income (Loss) Attributable to Parent is higher than the prior-year comparative on the three-month and six-month windows in the authorized comparison, but Earnings Per Share, Diluted relies on the weighted-average diluted share count mechanics in Note 2, so any future share-repurchase pace that diverges from the prior pattern — Payments for Repurchase of Common Stock are described as positive in the current and prior six-month windows — would reshape the per-share outcome rather than the net income line.

- Working-capital signals around receivables are framed cautiously in Note 6: management states "While we believe that our allowance for credit losses is adequate and represents our best estimate as of April (omitted) we continue to closely monitor customer liquidity and industry and economic conditions, which may result in changes to our estimates." The filing evidence does not attribute this change to any single cause.

- Cash deployment intensifies in the downside lens, with Payments of Dividends higher than the prior-year comparative and Payments to Acquire Property, Plant, and Equipment higher than the prior-year comparative on the six-month window, while Net Cash Provided by (Used in) Investing Activities remains negative and is lower than the prior-year comparative on the same six-month window. The filing evidence does not attribute this change to any single cause.

- The fair-value hedge program described in Note 9 carries a credit-risk contingent trigger: "If our credit rating were to fall below investment grade, we would be in violation of credit risk contingent provisions of the derivative instruments discussed above, and certain counterparties to the derivative instruments could request immediate payment on derivative instruments in net liability positions," with the aggregate fair value of such positions described as not material as of April (omitted), leaving the contingent exposure unquantified in the disclosed text. The filing evidence does not attribute this change to any single cause.

- Segment-level detail for revenue or net income on either window is not disclosed in the filing evidence: The filing evidence does not disclose segment-level detail for this dimension.; peer or industry comparison data is not disclosed: The filing evidence contains no peer or industry comparison..

Risks and what to watch

- The filing frames customer credit exposure as a standing watch-item rather than a present alarm. The cited note on receivables states that the allowance for credit-loss balances was not material at the most recent cut-off and that the period change in that allowance was not material for the three and six months ended April (omitted) and April (omitted), while also noting that management continues to closely monitor customer liquidity and industry and economic conditions, which may result in changes to our estimates. The same passage leaves the size of any future adjustment undefined.

- The contract-balance note points the other direction, toward forward demand rather than credit risk. Contract liabilities are described as having increased during the six-month year-to-date period, attributed to new billings for products and services for which performance obligations to customers were unsatisfied and revenue had not yet been recognized as of April (omitted), partially offset by revenue recognized. That is a forward-revenue signal the filing surfaces explicitly, but it is qualitative rather than quantified in the cited text.

- On the income side, the only year-over-year movement the filing authorizes by direction is an increase in Net Income (Loss) Attributable to Parent on both the three-month and six-month windows, with the transition staying profit to profit in each case. The same authorized pattern applies to Revenue from Contract with Customer, Excluding Assessed Tax on both windows. Reported facts: Net Income (Loss) Attributable to Parent was $2,137,000,000 USD for the three months ended April 27, 2025, $2,806,000,000 USD for the three months ended April 26, 2026, $3,322,000,000 USD for the six months ended April 27, 2025, and $4,832,000,000 USD for the six months ended April 26, 2026. Revenue from Contract with Customer, Excluding Assessed Tax was $7,100,000,000 USD for the three months ended April 27, 2025, $7,910,000,000 USD for the three months ended April 26, 2026, $14,266,000,000 USD for the six months ended April 27, 2025, and $14,922,000,000 USD for the six months ended April 26, 2026. No earnings beat, miss, or margin commentary is supplied inside the cited evidence, so any read on quality of earnings would be unsupported here. The filing evidence does not attribute this change to any single cause.

- Counter-evidence and unknowns that the reader should keep in mind: the cited text does not break out segment-level revenue or profitability, so a reader cannot tell from this filing whether the year-over-year increase in Revenue from Contract with Customer, Excluding Assessed Tax is broad-based or concentrated in a single end market, and The filing evidence does not disclose segment-level detail for this dimension.. The filing likewise provides no peer or industry benchmark inside the filing evidence, so cross-checking against semiconductor-equipment competitors is not possible from this source, and The filing evidence contains no peer or industry comparison.. The legal-proceedings, risk-factors, controls-and-procedures, and market-risk items are referenced only by their Item headings in the cited text, with no further content quoted here, so any change in disclosed risk factors or material legal developments cannot be asserted on the strength of this section.

- Metrics to focus on next period: the absolute level and period-over-period direction of Revenue from Contract with Customer, Excluding Assessed Tax, the absolute level and direction of Net Income (Loss) Attributable to Parent, the balance and any disclosed change in the allowance for credit losses referenced in the cited note, the size and movement of contract liabilities tied to unsatisfied performance obligations, and any incremental disclosure under the risk-factors, legal-proceedings, quantitative-and-qualitative market-risk, or controls-and-procedures Items. The reader can place this interim print alongside a prior-cycle semiconductor-equipment comparison such as REINSURANCE GROUP OF AMERICA INC Posts Higher Revenue and Net Income in the reporting period Filing only as a stylistic analogue, since the underlying issuers and end markets differ.