02.16.24
Applied Materials, Inc. reported results for its first quarter ended Jan. 28, 2024.
Applied generated revenue of $6.71 billion. On a GAAP basis, the company reported gross margin of 47.8%, operating income of $1.97 billion or 29.3% of net revenue, and earnings per share (EPS) of $2.41. On a non-GAAP basis, the company reported gross margin of 47.9%, operating income of $1.98 billion or 29.5% of net revenue, and EPS of $2.13.
The company generated $2.33 billion in cash from operations and distributed $966 million to shareholders including $700 million in share repurchases and $266 million in dividends.
“Applied Materials delivered strong results in the first quarter of fiscal 2024 and has outperformed our markets for the fifth consecutive year,” said Gary Dickerson, president and CEO. “Our leadership positions at key semiconductor inflections support continued outperformance as customers ramp next-generation chip technologies critical to AI and IoT over the next several years.”
In the second quarter of fiscal 2024, Applied expects net revenue to be approximately $6.5 billion, plus or minus $400 million. Non-GAAP diluted EPS is expected to be in the range of $1.79 to $2.15.
Applied generated revenue of $6.71 billion. On a GAAP basis, the company reported gross margin of 47.8%, operating income of $1.97 billion or 29.3% of net revenue, and earnings per share (EPS) of $2.41. On a non-GAAP basis, the company reported gross margin of 47.9%, operating income of $1.98 billion or 29.5% of net revenue, and EPS of $2.13.
The company generated $2.33 billion in cash from operations and distributed $966 million to shareholders including $700 million in share repurchases and $266 million in dividends.
“Applied Materials delivered strong results in the first quarter of fiscal 2024 and has outperformed our markets for the fifth consecutive year,” said Gary Dickerson, president and CEO. “Our leadership positions at key semiconductor inflections support continued outperformance as customers ramp next-generation chip technologies critical to AI and IoT over the next several years.”
In the second quarter of fiscal 2024, Applied expects net revenue to be approximately $6.5 billion, plus or minus $400 million. Non-GAAP diluted EPS is expected to be in the range of $1.79 to $2.15.