Analyst Conference Call Summary

semiconductors

conference date: August 13, 2026 @ 1:30 PM Pacific Time
for quarter ending: July 30, 2026 (third quarter, Q3 fiscal 2026)

Forward-looking statements

Overview:

Basic data (GAAP):

Revenues were $ billion, up % sequentially from $7.91 billion and up % from $ billion in the year-earlier quarter.

Net income was $ billion, up % sequentially from $2.81 billion and up % from $ billion year-earlier.

EPS (diluted earnings per share) were $, up % sequentially from $3.51 and up % from $ year-earlier.

Guidance:

Conference Highlights:

Gary Dickerson, CEO, said ""

The dividend has been increased to $0.53 per share per quarter. To shareholders as of August 20, payable September 10.

China represented % of revenue in Q3.

Non-GAAP numbers: net income $ billion, up % sequentially from $2.29 billion, and up % from $ billion year-earlier. EPS $, up % sequentially from $2.86, and up % from $ year-earlier.

[note: ICAPS = IoT, Communications, Automotive, Power and Sensors]

Semiconductor Systems sales were $ billion, up sequentially from $5.97 billion, and up from $ billion year-earlier. Revenue by type, as % of total: Foundry, logic and other %, DRAM %, Flash %. Segment operating income, GAAP, was $ billion; non-GAAP $ billion.

Applied Global Services (AGS) revenue was $ billion, up sequentially from $1.67 billion and up from $ billion year earlier. GAAP and Non-GAAP operating income was $ million.

Display segment revenue was $ million, down sequentially from $280 million and up from $ million year-earlier. Non-GAAP operating loss was $ million.

Cash and equivalents (including long-term investments) balance ended at $ billion, sequentially from $na billion. Cash flow from operating activities was $ million. Capital expenditures were $ million. Free cash flow $ million. $ million was used for cash dividends. Used $ million to repurchase shares. Long-term debt was $ billion.

Cost of goods sold was $ billion, leaving gross profit of $ billion. Operating expenses of $ billion consisted of: research and development $ billion; selling and marketing, $ million; general and administrative $ million; restructuring $0 million; legal settlement $0 million. Leaving income from operations of $ billion. Interest and other income net $ million. Income tax $ million.

Q&A selective summary:

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