Applied Materials reported fourth-quarter net income of $2.72 billion, or $3.40 per share, compared with net income of $1.9 billion, or $2.38 per share, in the same period a year earlier.
Revenue jumped 53% year over year to $10.41 billion, topping the $10.3 billion analysts surveyed by FactSet had expected.
Excluding certain one-time items, adjusted earnings per share came in at $4.16, above the $4.06 analysts had forecast, according to FactSet data.
Driven by rising demand for semiconductor equipment fueled by artificial intelligence, the chip equipment maker saw profit and sales climb sharply in its fiscal fourth quarter.
The company's semiconductor systems business posted a 64% surge in quarterly sales to nearly $8 billion.
Chief Executive Gary Dickerson said the semiconductor systems business could grow more than 40% in calendar year 2026.
"AI continues to drive incremental and robust demand across the semiconductor industry, and Applied Materials has built a complete product portfolio to support the development roadmap of AI computing, laying a solid foundation for our revenue and profit growth over the coming years," Dickerson said.
For its newly started fiscal first quarter, Applied Materials issued guidance of $11.1 billion in revenue, plus or minus $500 million, and adjusted earnings per share of $4.35, plus or minus $0.20.
The midpoints of both guidance figures are above the Wall Street consensus.
Analysts had previously expected sales of $10.85 billion and adjusted earnings per share of $4.24 for the quarter.
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