Applied Materials, Inc. reported a solid financial performance for the quarter ended July 28, 2024, with net revenue increasing to $6.778 billion from $6.425 billion in the same period the previous year. The company's operating income rose to $1.942 billion from $1.802 billion, while net income grew from $1.560 billion to $1.705 billion. Earnings per diluted share also saw an increase from $1.85 to $2.05. The company's gross margin improved by 1.0 point to 47.3%, and operating margin increased by 0.7 points to 28.7%. Applied Materials operates in three segments: Semiconductor Systems, Applied Global Services, and Display and Adjacent Markets, with Semiconductor Systems being the largest revenue contributor. The company saw increased investments in DRAM technology transitions and long-term service agreements, although there was a decrease in spending on leading-edge...Show More

Applied Materials, Inc. reported a solid financial performance for the quarter ended July 28, 2024, with net revenue increasing to $6.778 billion from $6.425 billion in the same period the previous year. The company's operating income rose to $1.942 billion from $1.802 billion, while net income grew from $1.560 billion to $1.705 billion. Earnings per diluted share also saw an increase from $1.85 to $2.05. The company's gross margin improved by 1.0 point to 47.3%, and operating margin increased by 0.7 points to 28.7%. Applied Materials operates in three segments: Semiconductor Systems, Applied Global Services, and Display and Adjacent Markets, with Semiconductor Systems being the largest revenue contributor. The company saw increased investments in DRAM technology transitions and long-term service agreements, although there was a decrease in spending on leading-edge manufacturing technologies by foundry and logic customers. The company's future plans include continued investments in research and development to maintain a competitive advantage and to offer new products and technologies. Despite challenges such as U.S. government export regulations affecting sales in China, Applied Materials expects strong investments by semiconductor equipment customers to continue, driven by the adoption of high-bandwidth memory, AI, data center computing, and mature nodes. The company's financial condition remains strong with $12.084 billion in cash, cash equivalents, and investments as of July 28, 2024.