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Applied Materials | 8-K: APPLIED MATERIALS ANNOUNCES FIRST QUARTER 2024 RESULTS

SEC announcement ·  Feb 16 05:08
Summary by Futu AI
Applied Materials, Inc. reported its financial results for the first quarter of fiscal year 2024 on February 15, 2024. The company announced a revenue of $6.71 billion, which remained flat compared to the same period last year. GAAP operating margin slightly increased to 29.3 percent, while non-GAAP operating margin stayed consistent at 29.5 percent. Notably, GAAP earnings per share (EPS) rose by 19 percent to $2.41, and non-GAAP EPS increased by 5 percent to $2.13. The company also generated $2.33 billion in cash from operations and returned $966 million to shareholders through share repurchases and dividends. President and CEO Gary Dickerson highlighted the company's strong performance and its leadership in semiconductor technology, which is expected to drive continued success in AI and IoT sectors. For the second quarter of fiscal 2024, Applied Materials forecasts net revenue to be around $6.50 billion, with non-GAAP diluted EPS ranging from $1.79 to $2.15. The report also included detailed segment information and a comprehensive reconciliation of GAAP to non-GAAP financial measures.
Applied Materials, Inc. reported its financial results for the first quarter of fiscal year 2024 on February 15, 2024. The company announced a revenue of $6.71 billion, which remained flat compared to the same period last year. GAAP operating margin slightly increased to 29.3 percent, while non-GAAP operating margin stayed consistent at 29.5 percent. Notably, GAAP earnings per share (EPS) rose by 19 percent to $2.41, and non-GAAP EPS increased by 5 percent to $2.13. The company also generated $2.33 billion in cash from operations and returned $966 million to shareholders through share repurchases and dividends. President and CEO Gary Dickerson highlighted the company's strong performance and its leadership in semiconductor technology, which is expected to drive continued success in AI and IoT sectors. For the second quarter of fiscal 2024, Applied Materials forecasts net revenue to be around $6.50 billion, with non-GAAP diluted EPS ranging from $1.79 to $2.15. The report also included detailed segment information and a comprehensive reconciliation of GAAP to non-GAAP financial measures.
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