Notice: Function _load_textdomain_just_in_time was called incorrectly. Translation loading for the wordpress-seo domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /var/www/html/wp-includes/functions.php on line 6260 Applied Materials Announces 1Q 2024 Results - Ink World Magazine

What are you searching for?

Sign in
Flexible Electronics News

Applied Materials Announces 1Q 2024 Results

Revenue $6.71 billion, flat year over year, and generated $2.33 billion in cash from operations.

Author Image

By: DAVID SAVASTANO

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

Applied Materials, Inc. reported results for its first quarter ended Jan. 28, 2024.

Applied generated revenue of $6.71 billion. On a GAAP basis, the company reported gross margin of 47.8%, operating income of $1.97 billion or 29.3% of net revenue, and earnings per share (EPS) of $2.41. On a non-GAAP basis, the company reported gross margin of 47.9%, operating income of $1.98 billion or 29.5% of net revenue, and EPS of $2.13.

The company generated $2.33 billion in cash from operations and distributed $966 million to shareholders including $700 million in share repurchases and $266 million in dividends.

“Applied Materials delivered strong results in the first quarter of fiscal 2024 and has outperformed our markets for the fifth consecutive year,” said Gary Dickerson, president and CEO. “Our leadership positions at key semiconductor inflections support continued outperformance as customers ramp next-generation chip technologies critical to AI and IoT over the next several years.”
In the second quarter of fiscal 2024, Applied expects net revenue to be approximately $6.5 billion, plus or minus $400 million. Non-GAAP diluted EPS is expected to be in the range of $1.79 to $2.15.

Add us as a preferred source on Google

Get the latest Ink World magazine news, insights and analysis in your Google Search and AI experiences.

Add Ink World magazine as a preferred source on Google (opens in a new tab)

Keep Up With Our Content. Subscribe To Ink World magazine Newsletters