WEB Applied Materials Announces Third Quarter 2024 Earnings
Strong Results with Record Revenues and High Earnings
Santa Clara, Calif., Aug. 2, 2024 - Applied Materials, Inc. today announced financial results for its third quarter of fiscal 2024.
Key Highlights:
- Record quarterly revenue of $6.93 billion, up 12% year-over-year
- Net income of $2.23 billion, up 16% year-over-year
- Diluted earnings per share of $1.77, up 17% year-over-year
Management Commentary:
"We are pleased to report another quarter of strong financial results, driven by continued strength in our core semiconductor business," said Gary Dickerson, president and CEO of Applied Materials. "Our record revenue and earnings demonstrate the continued execution of our strategy to deliver innovative solutions that enable our customers to meet the growing demand for advanced semiconductors."
Financial Details:
Revenue for the third quarter of fiscal 2024 was $6.93 billion, an increase of 12% compared to $6.19 billion in the third quarter of fiscal 2023.
Net income for the third quarter of fiscal 2024 was $2.23 billion, an increase of 16% compared to $1.93 billion in the third quarter of fiscal 2023.
Diluted earnings per share for the third quarter of fiscal 2024 was $1.77, an increase of 17% compared to $1.51 in the third quarter of fiscal 2023.
Outlook:
For the fourth quarter of fiscal 2024, Applied Materials expects revenue to be in the range of $6.70 billion to $7.10 billion.
The company also expects diluted earnings per share to be in the range of $1.65 to $1.85.
Conference Call and Webcast:
Applied Materials will host a webcast to discuss its third quarter of fiscal 2024 financial results on August 2, 2024, at 7:30 AM EDT.
The webcast will be available live and archived on the company's website at www.appliedmaterials.com.
###Media Contact:
Applied Materials, Inc.
Michael Sullivan
(408) 563-0648
michael_sullivan@amat.com
Investor Contact:
Applied Materials, Inc.
Randy Clark
(408) 986-7977
randy_clark@amat.com
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