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Jul 30, 2023
Applied Materials Q3 2023 Earnings Report
Applied Materials reported Q3 2023 results, with revenue of $6.43 billion and GAAP EPS of $1.85.
Key Takeaways
Applied Materials announced its Q3 2023 results, reporting revenue of $6.43 billion, a 1% decrease year-over-year. The company's GAAP EPS was $1.85, while non-GAAP EPS was $1.90. They generated $2.58 billion in cash from operations and distributed $707 million to shareholders.
Revenue was $6.43 billion, down 1% year over year.
GAAP operating margin was 28.0% and non-GAAP operating margin was 28.3%, down 1.5 points and 1.7 points year over year, respectively.
GAAP EPS was $1.85 and non-GAAP EPS was $1.90, flat and down 2% year over year, respectively.
Generated $2.58 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 fourth quarter of fiscal 2023, Applied expects net sales to be approximately $6.51 billion, plus or minus $400 million. Non-GAAP adjusted diluted EPS is expected to be in the range of $1.82 to $2.18.
Positive Outlook
- Net sales are expected to be approximately $6.51 billion, plus or minus $400 million.
- Non-GAAP adjusted diluted EPS is expected to be in the range of $1.82 to $2.18.
- 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 $0.01 per share
- Applied Materials is the leader in materials engineering solutions
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
- 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