From GlobeNewswire: 2024-05-16 16:01:00

Applied Materials, Inc. reported second-quarter results with revenue at $6.65 billion, flat year-over-year. GAAP operating margin stood at 28.8 percent, while non-GAAP operating margin reached 29.0 percent, both remaining steady. GAAP EPS was $2.06, up 11 percent, and non-GAAP EPS was $2.09, a 5 percent increase year-over-year. The company also generated $1.39 billion in cash from operations, distributing $1.09 billion to shareholders. CEO Gary Dickerson expressed optimism for strong performance due to material engineering technologies for chips.

The Semiconductor Systems segment of Applied Materials saw a dip in revenue from $4.977 billion in Q2 FY2023 to $4.901 billion in Q2 FY2024. The operating margin of 34.7 percent remained relatively stable compared to the previous year. Foundry, logic, and other sectors accounted for 65 percent of net revenue, while DRAM and Flash memory made up 32 percent and 3 percent, respectively.

Applied Global Services reported a slight increase in net revenue from $1.428 billion in Q2 FY2023 to $1.53 billion in Q2 FY2024. Operating margin also saw a small uptick from 26.9 percent to 28.5 percent year-over-year. Display and Adjacent Markets recorded net revenue of $179 million in Q2 FY2024, compared to $168 million in Q2 FY2023, with an operating margin of 2.8 percent, down from 9.5 percent.

The company provided a business outlook for the third quarter of fiscal 2024, expecting net revenue to be around $6.65 billion, plus or minus $400 million. Non-GAAP diluted EPS is anticipated to fall between $1.83 to $2.19. The outlook for non-GAAP diluted EPS excludes certain charges related to acquisitions and includes a net income tax benefit related to intra-entity intangible asset transfers.

Applied Materials continues to focus on growth and technology trends in the semiconductor industry, aiming to develop new products and technologies while ensuring compliance with legal and regulatory requirements. The company acknowledges the risks and uncertainties associated with global economic conditions, trade policies, technology transitions, consumer demand, and geopolitical factors. Applied Materials is committed to driving innovation and creating a better future through materials engineering solutions.



Read more at GlobeNewswire:: Applied Materials Announces Second Quarter 2024 Results