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AI Boom Fuels Applied Materials Record Quarter
13 Aug
Summary
- Third-quarter profit soared 43% driven by AI demand.
- Revenue climbed 25% to $9.12 billion, a new record.
- Company raises 2026 and 2027 growth expectations.
Applied Materials achieved another record-breaking quarter, driven significantly by the burgeoning demand for semiconductor manufacturing equipment spurred by the rapid global adoption of artificial intelligence.
The company announced a 43% increase in third-quarter profit, reaching $2.54 billion, or $3.17 per share. This performance reflects a robust increase from the previous year's $1.78 billion profit. Revenue also saw substantial growth, jumping 25% to $9.12 billion.
Executives expressed strong confidence in future performance, citing increased demand visibility from customers. Applied Materials is raising its revenue expectations for its Semiconductor Systems segment for calendar year 2026 and anticipates continued accelerated growth in 2027, aiming to outperform the broader market.
