Semiconductor Earnings Q4 2025 Roundup
Semiconductor Earnings Q4 2025 Roundup: 18 Companies Analyzed
Sector Overview
The Semiconductor sector saw 18 companies report earnings this quarter. Average revenue growth across the sector was +25.1%, signaling continued strength in the industry. On average, stocks moved +0.2% on earnings day, with 9 out of 18 companies seeing positive reactions.
Combined sector revenue totaled $1.2T for the quarter.
Company-by-Company Results
| Company | Ticker | Revenue | YoY Change | Earnings Day Move |
|---|---|---|---|---|
| ASML | ASML | $9.6B | +3.9% | -2.2% |
| Advanced Micro Devices | AMD | $10.3B | +34.1% | -17.3% |
| Applied Materials | AMAT | $7.0B | -2.1% | +8.1% |
| Broadcom Inc. | AVGO | $18.0B | +28.2% | -11.4% |
| Intel Corporation | INTC | $13.7B | -4.1% | -17.0% |
| KLA Corp | KLAC | $3.3B | +7.2% | -15.2% |
| Lam Research | LRCX | $5.3B | +22.1% | +3.6% |
| Lattice Semiconductor | LSCC | $146M | +24.2% | +16.3% |
| Marvel | MRVL | $2.1B | +36.8% | +7.9% |
| Microchip | MCHP | $1.2B | +15.6% | -2.6% |
| Micron | MU | $13.6B | +56.7% | +10.2% |
| NVIDIA Corporation | NVDA | $68.1B | +73.2% | -4.2% |
| NXP Semiconductor | NXPI | $3.3B | +7.2% | -1.8% |
| On Semiconductor | ON | $1.5B | -11.2% | +3.5% |
| Qualcomm | QCOM | $12.3B | +5.0% | -1.7% |
| Supermicro | SMCI | $12.7B | +123.4% | +13.8% |
| Taiwan Semiconductor | TSM | $1.1T | +21.6% | +4.4% |
| Texas Instruments | TXN | $4.4B | +10.4% | +9.9% |
Top Performers
Supermicro (SMCI) led the sector with revenue growth of +123.4%. Super Micro leverages its early-mover advantage in AI platforms and high-margin DCBBS solutions to diversify beyond a single hyperscale customer, expand margins, and sustain outsized revenue growth above its conservative $40B guide.
NVIDIA Corporation (NVDA) led the sector with revenue growth of +73.2%. NVIDIA’s full-stack AI platform, anchored by CUDA, NVLink, Rubin/Blackwell, networking, and strategic ecosystem investments, enables it to compound performance-per-watt leadership and monetize an expanding, diversified AI infrastructure TAM well into the next decade.
Micron (MU) led the sector with revenue growth of +56.7%. Strong AI-driven HBM and DRAM demand positions Micron for record revenue and margin growth, supported by multiyear LTAs with key customers.
Underperformers
On Semiconductor (ON) reported revenue growth of -11.2%. Macro and auto restocking remain tepid while non-core exits, utilization headwinds, and intense competition in AI power and wide bandgap slow ON’s path to its 53% margin model and limit upside to revenue growth and earnings over the next few years.
Intel Corporation (INTC) reported revenue growth of -4.1%. Persistent supply constraints, competitive pressures, and uncertain foundry execution may weigh on Intel’s profitability and market share.
Applied Materials (AMAT) reported revenue growth of -2.1%. Regulatory and China risks, potential moderation in ICAPS and AI intensity, and the need for elevated R&D and capacity spending could compress margins and limit upside to earnings and capital returns through the cycle.
Key Themes Across the Sector
Across 18 earnings calls, several common themes emerged:
- Durability and Composition of AI-Driven WFE Demand (Foundry-Logic vs. Memory, HBM, Regional Mix)
- Margin Trajectory, Mix, and OpEx Discipline (Including Services Profitability)
- Scale and Timing of Data Center AI (Instinct MI450/Helios/OpenAI) Ramp and 2026–2027 Revenue Power
- Sustainability and Magnitude of Data Center Growth (CPU + GPU) and Achievability of 60%+ CAGR in 2026
- Capacity Expansion: Real Growth or CapEx Inflation?
Individual Earnings Reports
- ASML (ASML) Q4 2025 Earnings
- Advanced Micro Devices (AMD) Q4 2025 Earnings
- Applied Materials (AMAT) Q4 2025 Earnings
- Broadcom Inc. (AVGO) Q3 2025 Earnings
- Intel Corporation (INTC) Q4 2025 Earnings
- KLA Corp (KLAC) Q4 2025 Earnings
- Lam Research (LRCX) Q4 2025 Earnings
- Lattice Semiconductor (LSCC) Q4 2025 Earnings
- Marvel (MRVL) Q3 2025 Earnings
- Microchip (MCHP) Q4 2025 Earnings
- Micron (MU) Q3 2025 Earnings
- NVIDIA Corporation (NVDA) Q4 2025 Earnings
- NXP Semiconductor (NXPI) Q4 2025 Earnings
- On Semiconductor (ON) Q4 2025 Earnings
- Qualcomm (QCOM) Q4 2025 Earnings
- Supermicro (SMCI) Q4 2025 Earnings
- Taiwan Semiconductor (TSM) Q4 2025 Earnings
- Texas Instruments (TXN) Q4 2025 Earnings
Frequently Asked Questions
How did the semiconductor sector perform in Q4 2025?
The semiconductor sector saw average revenue growth of +25.1% across 18 companies that reported earnings. The top performer was Supermicro (SMCI) with revenue growth of +123.4%.
Which semiconductor stock performed best after earnings?
Lattice Semiconductor (LSCC) had the strongest earnings-day reaction, with the stock moving +16.3% on the report.
What are the key trends in semiconductor for 2025?
Key themes discussed across semiconductor earnings calls include: margin trajectory, mix, and opex discipline (including services profitability), capacity expansion: real growth or capex inflation?, sustainability and magnitude of data center growth (cpu + gpu) and achievability of 60%+ cagr in 2026. These topics were debated across multiple companies in the sector.
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