Applied Materials' Strong Performance in Fiscal Year 2024 Q3 and Outlook

TapTechNews August 16th news, semiconductor equipment giant Applied Materials announced the performance of the third fiscal quarter of fiscal year 2024 as of July 28th local time on August 15th.

Applied Materials achieved a record-setting revenue of 6.778 billion US dollars (TapTechNews note: currently about 48.611 billion Chinese yuan) in the previous fiscal quarter, an increase of 5% year-on-year. Querying and comparing historical financial data, the revenue in the third fiscal quarter increased by 2% quarter-on-quarter compared to the second fiscal quarter.

Based on GAAP, Applied Materials achieved a 47.3% gross margin and a 28.7% operating margin in the third fiscal quarter of fiscal year 2024, rising by 1.0 and 0.7 percentage points respectively year-on-year. The net income was 1.705 billion US dollars, an increase of 9% year-on-year, and the diluted earnings per share was 2.05 US dollars, an increase of 11%.

Gary Dickerson, the president and CEO of Applied Materials, said:

The performance of Applied Materials in fiscal year 2024 is strong, and the revenue in the third fiscal quarter set a new historical high, and the profit is close to the high end of the expected range.

The competition for the leading position in artificial intelligence has stimulated the demand for our unique portfolio of connected products and services, enabling the performance of Applied Materials to lead the market for a long time.

Applied Materials expects the revenue in the fourth fiscal quarter of fiscal year 2024 to further reach 69.3 ± 4 billion US dollars, and the non-GAAP diluted earnings per share is in the range of 2.00 to 2.36 US dollars.