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Jan 28, 2024
Applied Materials Q1 2024 Earnings Report
Applied Materials reported flat revenue and increased EPS year over year for the first quarter of fiscal year 2024.
Key Takeaways
Applied Materials announced its Q1 2024 results, reporting revenue of $6.71 billion, which remained flat compared to the previous year. GAAP EPS increased by 19% to $2.41, while non-GAAP EPS increased by 5% to $2.13. The company generated $2.33 billion in cash from operations.
Revenue was $6.71 billion, flat year over year.
GAAP operating margin was 29.3 percent, up 0.1 points year over year.
GAAP EPS was $2.41, up 19 percent year over year.
Generated $2.33 billion in cash from operations.
Applied Materials
Applied Materials
Applied Materials Revenue by Segment
Applied Materials Revenue by Geographic Location
Revenue by Segment
Semiconductor Systems Revenue
CapyFin.comApplied Global Services Revenue
CapyFin.comDisplay Revenue
CapyFin.comCorporate and Other Revenue
CapyFin.comRevenue by Geographic Location
United States Revenue
CapyFin.comEurope Revenue
CapyFin.comJapan Revenue
CapyFin.comKorea Revenue
CapyFin.comTaiwan Revenue
CapyFin.comSoutheast Asia Revenue
CapyFin.comChina Revenue
CapyFin.com Forward Guidance
In the second quarter of fiscal 2024, Applied expects net revenue to be approximately $6.50 billion, plus or minus $400 million. Non-GAAP diluted EPS is expected to be in the range of $1.79 to $2.15.
Positive Outlook
- Net revenue is expected to be approximately $6.50 billion, plus or minus $400 million.
- Non-GAAP diluted EPS is expected to be in the range of $1.79 to $2.15.
- Includes the normalized tax benefit of share-based compensation of $0.01 per share
- Includes a net income tax benefit related to intra-entity intangible asset transfers of $0.02 per share
Challenges Ahead
- Excludes known charges related to completed acquisitions of $0.01 per share
- Does not reflect any items that are unknown at this time.
- Additional charges related to acquisitions or other non-operational or unusual items.
- Other tax-related items, which we are not able to predict without unreasonable efforts due to their inherent uncertainty.
Revenue & Expenses
Visualization of income flow from segment revenue to net income