Thu, Aug 22, 8:02 PM (145 days ago)
Applied Materials, Inc. reported strong quarterly performance for the period ending July 28, 2024, with net revenue of $6,778 million, a 5% increase from $6,425 million in the prior year. The gross profit margin improved to 47.3%, reflecting lower material and manufacturing costs. Operating income rose to $1,942 million, with an operating margin of 28.7%. Net income reached $1,705 million, translating to earnings per diluted share of $2.05, up from $1.85. Cash flow from operations totaled $6,102 million, though down from $7,145 million year-over-year, influenced by lower customer billings and collections. The company maintained a robust cash position with $8,288 million in cash and equivalents. Investments totaled $1,256 million, primarily for capital expenditures and securities. Looking ahead, Applied Materials faces uncertainties from global trade regulations, particularly concerning exports to China, which could impact future revenue. The company is navigating a competitive landscape while investing in R&D to meet evolving customer demands in semiconductor and display technologies.