Applied Materials filed an 8-K with the SEC after Thursday's close to report its fiscal third-quarter 2026 results (the quarter ended July 26, 2026) — and they were records almost across the board. The world's largest maker of chip-manufacturing equipment posted its highest-ever quarterly revenue and its strongest sequential growth in company history, driven by AI-fueled demand for advanced memory and leading-edge logic tools.

The numbers

• Revenue: $9.12 billion, up 25% year over year — a record, and ahead of the roughly $9.0 billion analysts expected (a beat).
• Non-GAAP EPS: $3.50 (record), up 41% YoY, versus the ~$3.38 consensus — a clear beat. GAAP EPS was $3.17, up 43%.
• Semiconductor Systems (the core tool business): revenue $7.04 billion, up from $5.56 billion a year ago. DRAM rose to 26% of that mix (from 22%) — the AI-memory story showing up in the numbers.
• Applied Global Services (parts, software, service contracts): $1.78 billion, up from $1.46 billion.
• Gross margin 50.3% (GAAP) — the company's 13th straight quarter of year-over-year gross-margin expansion. Record operating income of $3.08 billion.
• Cash returned: $860 million to shareholders ($440M buybacks + $420M dividends); record $3.04 billion cash from operations.
• Q4 FY2026 guidance (the raise): revenue of $10.25 billion ± $500M and non-GAAP EPS of $4.02 ± $0.20 — a strong step up, with management lifting its Semiconductor Systems outlook for calendar 2026.

What was filed — and what an 8-K "item 2.02" means

An 8-K is the SEC form a public company uses to tell investors about a material event promptly, rather than waiting for the next quarterly (10-Q) or annual (10-K) report. Each 8-K is tagged with numbered "items" that say what kind of event it is. Item 2.02 — "Results of Operations and Financial Condition" — is the specific item companies use to release quarterly earnings. In plain terms: when a company reports results after the bell, the earnings press release is attached to an 8-K under item 2.02. So this filing is Applied's official Q3 earnings, straight from the source, before any headline or analyst spin.

Why it matters

Applied Materials sells the machines that etch, deposit, and pattern the layers inside every advanced chip. That makes it a "picks-and-shovels" read on the whole semiconductor build-out: if the makers of AI accelerators and high-bandwidth memory are expanding capacity, Applied's order book is one of the first places it shows. The standout here is the DRAM shift — memory rising to 26% of Semiconductor Systems revenue points to spending on the high-bandwidth memory that AI servers depend on. The beat-and-raise combination (better-than-expected results plus a stronger forward guide) is what investors watch most, because guidance signals what management sees in customers' order pipelines for the next few months.

One thing to read carefully: GAAP EPS ($3.17) is lower than non-GAAP EPS ($3.50). That gap is the normal effect of excluding stock-based compensation and acquisition-related costs — not a one-off gain inflating the number. Both measures grew sharply this quarter, so the strength is real, but it's always worth knowing which figure a headline is quoting.

Beginner takeaway

Applied Materials delivered record revenue and profit, beat what Wall Street expected, and guided next quarter higher — a textbook "beat and raise." The engine is AI-driven demand for memory and leading-edge chipmaking tools. Strong results don't guarantee the stock goes up (markets often price expectations in advance), so treat this as information about the business, not a signal to buy or sell.

FAQ

What's the difference between GAAP and non-GAAP EPS? GAAP follows standard accounting rules; non-GAAP strips out items management considers one-time or non-cash (like stock comp and acquisition costs). Companies emphasize non-GAAP, but GAAP is the audited baseline — look at both.

Why does an equipment maker like Applied benefit from AI? AI chips and the high-bandwidth memory around them need more advanced manufacturing steps, so chipmakers buy more of Applied's tools. Rising DRAM mix in its results is a direct fingerprint of that memory demand.

What is a "beat and raise"? "Beat" means results came in above analyst estimates; "raise" means the company's guidance for the next period is higher than expected. Investors prize the combination because it suggests momentum is continuing, not fading.

Where can I see the actual numbers myself? They're in the earnings press release attached to this 8-K on the SEC's EDGAR system — linked below. Reading the primary document is the best habit an investor can build.

As of August 13, 2026. Source: official SEC filing — read it directly here. We summarise filings for education and may make errors, so always verify against the official document. Educational content only — not investment advice, not a buy/sell recommendation.