Filing Flows › Applied Materials (AMAT) › Q1 FY26
Applied Materials (AMAT) Q1 FY26 earnings results (first quarter fiscal 2026)
10-Q filed Feb 19, 2026
Applied Materials (AMAT) reported revenue of $7.0B for the first quarter fiscal 2026 (Q1 FY26), -2% from a year earlier and +3% from the quarter before. Operating margin was 26.1%, net earnings $2.0B (28.9% of revenue).
Applied Materials, Q1 FY26: revenue $7.0B (-2% year over year), operating margin 26.1%, net earnings $2.0B, operating cash flow $1.7B. The chart follows the revenue to costs, profit and cash.
| Q1 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $7.0B | +3% | -2% |
| Gross profit | $3.4B | +5% | -2% |
| Operating profit | $1.8B | +7% | -16% |
| Net earnings | $2.0B | +7% | +71% |
| Operating cash flow | $1.7B | -40% | +82% |
| Free cash flow | $1.0B | — | +91% |
What changed
Revenue was $7.0B in Q1 FY26, down 2% year over year and up 3% from the previous quarter.
Gross margin was 49.0%, up 0.2 points from a year earlier. Operating profit was $1.8B, a 26.1% margin (down 4.2 points year over year). Operating expenses grew 21% against a revenue fall of 2%. Net earnings were $2.0B, up 71% year over year. The effective tax rate was 13.0%. Non-operating items added $0.50B, 21% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $1.7B (up 82% year over year), 83% of net earnings. Non-cash charges added back $0.13B of depreciation and amortization and $0.21B of share-based compensation. Working capital and other items used $0.67B. After capital expenditures ($0.65B), free cash flow as the company reports it was $1.0B.
Questions
What was Applied Materials' revenue in the first quarter fiscal 2026?
Applied Materials (AMAT) reported revenue of $7.0B for the first quarter fiscal 2026 (Q1 FY26), -2% from a year earlier and +3% from the quarter before.
Was Applied Materials profitable in the first quarter fiscal 2026?
Operating profit was $1.8B (26.1% of revenue) and net earnings $2.0B.
Source: Applied Materials 10-Q on SEC EDGAR.