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Applied Materials Announces 2Q 2024 Results

Revenue $6.65 billion, flat year over year, while generating $1.39 billion in cash from operations.

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By: DAVID SAVASTANO

Contributing Editor, Coatings World and Ink World, Coatings World and Ink World Magazine

https://stagging_pen.rodpub.com/contents/view_breaking-news/2024-03-13/applied-materials-increases-cash-dividend-by-25/
www.appliedmaterials.com
Applied Materials Announces 2Q 2024 Results

Revenue $6.65 billion, flat year over year, while generating $1.39 billion in cash from operations.

Applied Materials, Inc. reported results for its second quarter ended Apr. 28, 2024.

Applied generated revenue of $6.65 billion. On a GAAP basis, the company reported gross margin of 47.4%, operating income of $1.91 billion or 28.8% of net revenue, and earnings per share (EPS) of $2.06.

On a non-GAAP basis, the company reported gross margin of 47.5%, operating income of $1.93 billion or 29.0% of net revenue, and EPS of $2.09.

The company generated $1.39 billion in cash from operations and distributed $1.09 billion to shareholders including $820 million in share repurchases and $266 million in dividends.

“Applied Materials continues to deliver strong performance in 2024, with fiscal second quarter revenue and earnings towards the high end of our guided range,” said Gary Dickerson, president and CEO. “Applied Materials has the most enabling portfolio of materials engineering technologies for chips that underpin tectonic shifts in technology including AI, IoT, electric vehicles and clean energy, which puts us in a great position to grow along with these long-term, secular trends.”

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