Applied Materials reports record revenue and earnings in Q3 2024, expects continued growth in Q4.

From GlobeNewswire: 2024-08-15 16:01:00

Applied Materials, Inc. reported record revenue of $6.78 billion in Q3 2024, up 5% YoY. GAAP operating margin was 28.7% and non-GAAP margin was 28.8%. GAAP EPS was $2.05 and non-GAAP EPS was $2.12, up 11% and 12% YoY. The company generated $2.39 billion in cash from operations. The company’s CEO, Gary Dickerson, stated that these strong results position Applied for long-term outperformance.

Applied Materials expects Q4 2024 revenue to be around $6.93 billion. Non-GAAP EPS is projected to be $2.00 to $2.36. The company’s Q3 results showed a net revenue of $6.78 billion, gross margin of 47.3%, and operating margin of 28.7%. The semiconductor systems segment saw net revenue of $4.92 billion.

The Applied Global Services segment had net revenue of $1.58 billion in Q3, with an operating margin of 29.6%. Display and Adjacent Markets segment had $251 million in net revenue. The company’s total unallocated net revenue was $23 million, with unallocated costs of products sold and expenses totaling $276 million.

Applied Materials provides investors with non-GAAP financial measures. These measures adjust for certain costs, expenses, gains, and losses. The company uses these measures to evaluate its performance and for planning purposes. Management believes these measures enhance understanding of the company’s performance. Webcast of earnings call available at www.appliedmaterials.com.



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