Income Statement
Quarterly Data

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

Applied Materials Inc., consolidated income statement (quarterly data)

US$ in millions

3 months ended:	Apr 26, 2026	Jan 25, 2026	Oct 26, 2025	Jul 27, 2025	Apr 27, 2025	Jan 26, 2025	Oct 27, 2024	Jul 28, 2024	Apr 28, 2024	Jan 28, 2024	Oct 29, 2023	Jul 30, 2023	Apr 30, 2023	Jan 29, 2023	Oct 30, 2022	Jul 31, 2022	May 1, 2022	Jan 30, 2022	Oct 31, 2021	Aug 1, 2021	May 2, 2021	Jan 31, 2021	Oct 25, 2020	Jul 26, 2020	Apr 26, 2020	Jan 26, 2020
Revenue	7,910)	7,012)	6,800)	7,302)	7,100)	7,166)	7,045)	6,778)	6,646)	6,707)	6,723)	6,425)	6,630)	6,739)	6,749)	6,520)	6,245)	6,271)	6,123)	6,196)	5,582)	5,162)	4,688)	4,395)	3,957)	4,162)
Cost of products sold	(3,963)	(3,577)	(3,535)	(3,740)	(3,615)	(3,670)	(3,710)	(3,573)	(3,493)	(3,503)	(3,554)	(3,449)	(3,536)	(3,594)	(3,648)	(3,514)	(3,318)	(3,312)	(3,178)	(3,229)	(2,929)	(2,813)	(2,558)	(2,440)	(2,208)	(2,304)
Gross profit	3,947)	3,435)	3,265)	3,562)	3,485)	3,496)	3,335)	3,205)	3,153)	3,204)	3,169)	2,976)	3,094)	3,145)	3,101)	3,006)	2,927)	2,959)	2,945)	2,967)	2,653)	2,349)	2,130)	1,955)	1,749)	1,858)
Research, development and engineering	(1,027)	(928)	(917)	(901)	(893)	(859)	(858)	(836)	(785)	(754)	(789)	(767)	(775)	(771)	(726)	(705)	(686)	(654)	(622)	(640)	(617)	(606)	(560)	(572)	(550)	(552)
Marketing and selling	(233)	(222)	(212)	(224)	(216)	(206)	(215)	(205)	(209)	(207)	(192)	(193)	(194)	(197)	(183)	(180)	(173)	(167)	(155)	(159)	(148)	(147)	(131)	(130)	(130)	(135)
General and administrative	(164)	(189)	(243)	(204)	(207)	(256)	(216)	(222)	(247)	(276)	(217)	(214)	(214)	(207)	(198)	(197)	(174)	(166)	(155)	(155)	(149)	(161)	(156)	(145)	(137)	(129)
Legal settlement	—)	(253)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Restructuring charges	—)	(12)	(181)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	4)	1)	—)	(6)	(152)	—)	—)	—)	—)
Deal termination fee	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	(154)	—)	—)	—)	—)	—)
Operating expenses	(1,424)	(1,604)	(1,553)	(1,329)	(1,316)	(1,321)	(1,289)	(1,263)	(1,241)	(1,237)	(1,198)	(1,174)	(1,183)	(1,175)	(1,107)	(1,082)	(1,033)	(983)	(931)	(954)	(1,074)	(1,066)	(847)	(847)	(817)	(816)
Income from operations	2,523)	1,831)	1,712)	2,233)	2,169)	2,175)	2,046)	1,942)	1,912)	1,967)	1,971)	1,802)	1,911)	1,970)	1,994)	1,924)	1,894)	1,976)	2,014)	2,013)	1,579)	1,283)	1,283)	1,108)	932)	1,042)
Interest expense	(69)	(69)	(71)	(66)	(68)	(64)	(66)	(63)	(59)	(59)	(58)	(60)	(61)	(59)	(57)	(56)	(58)	(57)	(57)	(57)	(61)	(61)	(59)	(61)	(61)	(59)
Interest and other income (expense), net	771)	566)	626)	396)	221)	8)	(85)	81)	141)	395)	259)	64)	(73)	50)	12)	(7)	28)	6)	49)	24)	27)	18)	19)	(7)	7)	22)
Income before income taxes	3,225)	2,328)	2,267)	2,563)	2,322)	2,119)	1,895)	1,960)	1,994)	2,303)	2,172)	1,806)	1,777)	1,961)	1,949)	1,861)	1,864)	1,925)	2,006)	1,980)	1,545)	1,240)	1,243)	1,040)	878)	1,005)
Provision for income taxes	(419)	(302)	(370)	(784)	(185)	(934)	(164)	(255)	(272)	(284)	(168)	(246)	(202)	(244)	(358)	(255)	(328)	(133)	(294)	(264)	(215)	(110)	(112)	(199)	(123)	(113)
Net income	2,806)	2,026)	1,897)	1,779)	2,137)	1,185)	1,731)	1,705)	1,722)	2,019)	2,004)	1,560)	1,575)	1,717)	1,591)	1,606)	1,536)	1,792)	1,712)	1,716)	1,330)	1,130)	1,131)	841)	755)	892)

Revenue exhibits a consistent long-term upward trajectory, growing from 4,162 million USD in January 2020 to a peak of 7,910 million USD by April 2026. While a period of relative stability occurred between January 2022 and July 2024, where quarterly revenues fluctuated between 6,245 million USD and 7,045 million USD, a significant acceleration in growth is observed in the final quarters of the sequence.

Gross Profitability and Margin Trends: Gross profit has expanded in alignment with revenue growth, rising from 1,858 million USD in January 2020 to 3,947 million USD in April 2026. The cost of products sold has increased in absolute terms but has been managed such that gross profit margins remained resilient throughout the period, reflecting stable pricing power or improved production efficiencies.
Operating Expense Evolution: Operating expenses have scaled upward, driven primarily by a steady increase in research, development, and engineering expenditures, which grew from 552 million USD in early 2020 to 1,027 million USD by April 2026. Marketing and selling expenses followed a similar gradual increase. General and administrative costs remained more volatile, peaking in January 2024 at 276 million USD before contracting toward the end of the period.
Operating Income and Special Items: Income from operations generally trended upward, reaching 2,523 million USD in April 2026. However, a notable contraction occurred in October 2025, where operating income dropped to 1,712 million USD. This decline is attributed to significant one-time charges, specifically a 253 million USD legal settlement and 181 million USD in restructuring charges.
Non-Operating Income and Financial Impact: A substantial shift in interest and other income is observed starting in late 2023. These figures transitioned from relatively low values to significant quarterly contributions, peaking at 771 million USD in April 2026. This increase in non-operating income has provided a substantial buffer to the bottom line, significantly augmenting income before income taxes in the latter half of the analysis period.
Net Income and Taxation Volatility: Net income has grown from 892 million USD in January 2020 to 2,806 million USD in April 2026. Despite the overall growth, the bottom line exhibits volatility due to fluctuating tax provisions. For instance, a particularly high provision for income taxes of 934 million USD in January 2025 resulted in a temporary dip in net income relative to the preceding and succeeding quarters.

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Applied Materials Inc. (NASDAQ:AMAT)

Income StatementQuarterly Data

Income Statement
Quarterly Data