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Jul 28, 2024
Applied Materials Q3 2024 Earnings Report
Applied Materials reported strong third quarter results with record revenues and earnings towards the high end of guidance.
Key Takeaways
Applied Materials announced its Q3 2024 results, reporting a 5% year-over-year increase in revenue to $6.78 billion. GAAP EPS was $2.05, and non-GAAP EPS was $2.12, representing an 11% and 12% increase year-over-year, respectively. The company generated $2.39 billion in cash from operations and distributed $1.19 billion to shareholders through share repurchases and dividends.
Revenue reached a record $6.78 billion, up 5% year-over-year.
GAAP operating margin was 28.7%, and non-GAAP operating margin was 28.8%, increasing by 0.7 and 0.5 points year-over-year, respectively.
GAAP EPS was $2.05, and non-GAAP EPS was $2.12, up 11% and 12% year-over-year, respectively.
Cash from operations was $2.39 billion.
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
For the fourth quarter of fiscal 2024, Applied Materials expects net revenue to be approximately $6.93 billion, plus or minus $400 million. Non-GAAP diluted EPS is expected to be in the range of $2.00 to $2.36.
Positive Outlook
- Net revenue is expected to be approximately $6.93 billion, plus or minus $400 million.
- Non-GAAP diluted EPS is expected to be in the range of $2.00 to $2.36.
- Outlook excludes known charges related to completed acquisitions of $0.01 per share.
- Outlook includes the normalized tax benefit of share-based compensation of $0.01 per share.
- Outlook includes a net income tax benefit related to intra-entity intangible asset transfers of $0.02 per share.
Challenges Ahead
- The outlook does not reflect any items that are unknown at this time.
- The outlook does not include any additional charges related to acquisitions.
- The outlook does not include other non-operational or unusual items.
- The outlook does not include other tax-related items.
- The company is not able to predict these items without unreasonable efforts due to their inherent uncertainty.
Revenue & Expenses
Visualization of income flow from segment revenue to net income