Applied Materials (AMAT) Q2 Earnings Surprise Drives 13.7% After-Hours Surge

Applied Materials (AMAT-US) reported Q2 revenue and profit well-above analyst forecasts, driven by robust AI processing demand and global semiconductor shortages. The results prompted a 13.7% after-hours price boost on February 12, 2026, outpacing peers. Key figures: Revenue $76.5B vs $70.3B; EPS $2.64 vs $2.29. President and CEO Gary Dickerson attributed growth to heightened demand for high-performance, energy-efficient chips, HBM, and advanced packaging, with clients like Samsung and Micron expanding capacity amid supply constraints. The company also resolved a DOJ probe into illegal exports to China with a $2.525B settlement. Q1 results, released earlier on February 12, showed revenue up 2% to $70.1B vs $68.7B, non-GAAP EPS of $2.38 vs $2.20. Chip business revenue rose 34% compared to 27% in Q1 2025.