Key TakeawaysApplied Materials reported stronger-than-expected results for the fiscal third quarter and provided an outlook in line with projections.Quarterly revenue reached a record high and profit topped analysts' estimates.Applied Materials CEO Gary Dickerson said the record revenue was fueled by the race for artificial intelligence leadership. Applied Materials (AMAT) posted stronger-than-expected results for the fiscal third quarter, amid a surge in demand that the company's CEO said was fueled by the ...

Third Quarter Fiscal 2024 Earnings Presentation August 15, 2024 Applied Materials External Forward-Looking Statements 2 This presentation contains forward-looking statements, including those regarding anticipated growth and trends in our businesses and markets, industry outlooks and demand drivers, technology transitions, our business and financial performance and market share positions, our capital allocation and cash deployment strategies, our investment and growth strategies, our development of new produ ...

Financial Performance - Revenue for Q3 FY2024 was $6.78 billion, representing a 5% increase year over year[1] - GAAP operating margin was 28.7%, up 0.7 points from the previous year, while non-GAAP operating margin was 28.8%, up 0.5 points[2] - GAAP EPS was $2.05, an 11% increase year over year, and non-GAAP EPS was $2.12, a 12% increase[2] - Net revenue for the three months ended July 28, 2024, was $6,778 million, a 5.5% increase from $6,425 million for the same period last year[15] - Net income for the three months ended July 28, 2024, was $1,705 million, representing a 9.2% increase compared to $1,560 million for the same period last year[15] - Basic earnings per share for the three months ended July 28, 2024, was $2.06, up from $1.86 in the same period last year, reflecting a 10.8% increase[15] - Q3 FY 2024 net revenue reached $3,305 million, compared to $2,800 million in Q3 FY 2023, reflecting a growth of 18%[18] - GAAP reported net income for Q3 FY 2024 was $1,705 million, compared to $1,560 million in Q3 FY 2023, indicating a year-over-year increase of 9.2%[19] - Non-GAAP earnings per diluted share for Q3 FY 2024 was $2.12, compared to $1.90 in Q3 FY 2023, representing a growth of 11.6%[21] Cash Flow and Shareholder Returns - The company generated $2.39 billion in cash from operations and returned $1.19 billion to shareholders through share repurchases and dividends[2] - Cash provided by operating activities for the three months ended July 28, 2024, was $2,385 million, compared to $2,583 million for the same period last year[17] - Non-GAAP free cash flow for the three months ended July 28, 2024, was $2,088 million, down from $2,328 million year-over-year[26] - For the nine months ended July 28, 2024, non-GAAP free cash flow totaled $5,319 million, compared to $6,348 million for the same period last year[26] Revenue Segmentation - Semiconductor Systems segment revenue was $4.92 billion, with an operating margin of 34.8%[6] - Applied Global Services segment revenue was $1.58 billion, with an operating margin of 29.6%[6] - Display and Adjacent Markets segment revenue was $251 million, with an operating margin of 6.4%[6] - Revenue from China accounted for 32% of total revenue in Q3 FY 2024, up from 27% in Q3 FY 2023[18] - Revenue from Taiwan decreased to $1,148 million in Q3 FY 2024, down from $1,345 million in Q3 FY 2023, reflecting a decline in percentage of total revenue from 21% to 17%[18] Future Projections - For Q4 FY2024, Applied expects net revenue to be approximately $6.93 billion, plus or minus $400 million[4] - Non-GAAP diluted EPS for Q4 FY2024 is projected to be in the range of $2.00 to $2.36[4] Assets and Liabilities - Total current assets increased to $20,671 million as of July 28, 2024, from $19,147 million as of October 29, 2023[16] - Total liabilities rose to $14,807 million as of July 28, 2024, compared to $14,380 million as of October 29, 2023[16] - Cash and cash equivalents increased to $8,288 million as of July 28, 2024, from $6,132 million as of October 29, 2023[16] - The company reported a total of $3,100 million in property, plant, and equipment as of July 28, 2024, up from $2,723 million as of October 29, 2023[16] - Total stockholders' equity increased to $18,840 million as of July 28, 2024, from $16,349 million as of October 29, 2023[16] Employee Metrics - The company employed 35.2 thousand regular full-time employees in Q3 FY 2024, an increase from 34.5 thousand in Q3 FY 2023[18] Taxation - The effective income tax rate for GAAP was 13.0% in Q3 FY 2024, while the non-GAAP effective income tax rate was 12.2%[25] Capital Expenditures - Capital expenditures for the three months ended July 28, 2024, were $(297) million, slightly higher than $(255) million for the same period last year[26] - Capital expenditures for the nine months ended July 28, 2024, were $(783) million, compared to $(797) million for the same period last year[26] Strategic Focus - The company is focused on leveraging demand for AI technologies to drive future growth and market performance[2]

Revenue $6.78 billion, up 5 percent year over yearGAAP operating margin 28.7 percent and non-GAAP operating margin 28.8 percent, up 0.7 points and 0.5 points year over year, respectivelyGAAP EPS $2.05 and non-GAAP EPS $2.12, up 11 percent and 12 percent year over year, respectivelyGenerated $2.39 billion in cash from operations SANTA CLARA, Calif., Aug. 15, 2024 (GLOBE NEWSWIRE) -- Applied Materials, Inc. (NASDAQ: AMAT) today reported results for its third quarter ended Jul. 28, 2024. Third Quarter Results ...

NEW YORK, Aug. 15, 2024 (GLOBE NEWSWIRE) -- Attorney Advertising--Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Applied Materials, Inc. (“Applied Materials” or “the Company”) (NASDAQ: AMAT). Investors who purchased Applied Materials securities are encouraged to obtain additional information and assist the investigation by visiting the firm’s site: bgandg.com/AMAT. Investigation Details On November 16, 2023, Reuters reported that Applied Materials was under c ...

RADNOR, Pa., Aug. 14, 2024 (GLOBE NEWSWIRE) -- The law firm of Kessler Topaz Meltzer & Check, LLP (www.ktmc.com) is currently investigating potential violations of the federal securities laws on behalf of investors of Applied Materials, Inc. (NASDAQ: AMAT) (“Applied Materials”). On November 16, 2023, Reuters reported that Applied Materials was under criminal investigation by the U.S. Justice Department for potentially evading export restrictions on China’s top chipmaker, SMIC. On this news, Applied Material ...

Applied Materials Inc AMAT is up 39.48% over the past year, and 28.21% year-to-date.Let’s look at what the charts indicate for the company’s stock ahead of third-quarter earnings, set to be released on Thursday after market hours.Bearish Trend With Buying PressureApplied Materials’ stock is exhibiting a mixed technical picture. The current share price of $201.21 is below its five, 20 and 50-day exponential moving averages, indicating a strongly bearish trend. Despite this, Applied Materials’ stock is showin ...

RADNOR, Pa., Aug. 14, 2024 /PRNewswire/ -- The law firm of Kessler Topaz Meltzer & Check, LLP (www.ktmc.com) is currently investigating potential violations of the federal securities laws on behalf of investors of Applied Materials, Inc. (NASDAQ: AMAT) ("Applied Materials").On November 16, 2023, Reuters reported that Applied Materials was under criminal investigation by the U.S. Justice Department for potentially evading export restrictions on China's top chipmaker, SMIC.  On this news, Applied Materials' s ...

Applied Materials (AMAT) is scheduled to report third-quarter fiscal 2024 results on Aug 15.For the fiscal third quarter, AMAT expects net sales of $6.65 billion (+/-$400 million). The Zacks Consensus Estimate for revenues is pegged at $6.67 billion, suggesting a rise of 3.8% from the year-ago quarter’s reading.Applied Materials projects non-GAAP earnings of $1.83-$2.19 per share. The Zacks Consensus Estimate for earnings is pinned at $2.01 per share, indicating growth of 5.8% from the year-ago quarter’s re ...

Before considering which semiconductor stocks to buy on the dip, it’s important to understand why chip stocks have been falling since the beginning of July. Consider three intertwined reasons. First, recession concerns are back. The latest job numbers show a tightening labor market, and the July reading on inflation is due the week of August 12. Global markets are starting to believe that the U.S. Federal Reserve won’t be able to cut interest rates quickly enough to prevent a recession. Geopolitical concern ...