Latest News Events And Media From Applied Materials

WEB Applied Materials Announces Q2 FY2024 Earnings Webcast and CY2023 WFE Market Summary

Latest News Events and Media from Applied Materials

Applied Materials, a leading equipment supplier to the semiconductor display and solar industries, has announced its Q2 FY2024 earnings webcast and CY2023 WFE Market Summary. The company reported Q2 CY2024 results exceeding Wall Street expectations, with revenue of $6.75 billion and earnings per share of $2.04, beating analyst estimates of $6.66 billion and $1.95, respectively.

Applied Materials is scheduled to host a webcast to discuss its financial results on Thursday, May 25, 2023, at 1:30 PM Pacific Time. A live webcast of the event will be available on the company's website at www.appliedmaterials.com.

In addition to its financial results, Applied Materials also provided an update on the CY2023 WFE market. The company expects WFE spending to decline by approximately 5% in CY2023, driven by weakness in the memory and foundry markets. However, Applied Materials remains optimistic about the long-term growth prospects of the semiconductor industry, driven by the increasing demand for chips in a wide range of applications, including artificial intelligence, 5G, and automotive.

Key Highlights of Applied Materials' Q2 FY2024 Earnings

• Revenue of $6.75 billion, up 11% year-over-year
• Earnings per share of $2.04, up 15% year-over-year
• Gross margin of 47.7%, up 130 basis points year-over-year
• Operating margin of 24.3%, up 180 basis points year-over-year
• Net income of $1.64 billion, up 16% year-over-year

Outlook for the Semiconductor Industry

Applied Materials remains optimistic about the long-term growth prospects of the semiconductor industry, driven by the increasing demand for chips in a wide range of applications, including artificial intelligence, 5G, and automotive. The company expects WFE spending to decline by approximately 5% in CY2023, driven by weakness in the memory and foundry markets. However, Applied Materials believes that the long-term growth drivers for the semiconductor industry remain intact and that the company is well-positioned to capitalize on this growth.

About Applied Materials

Applied Materials is a leading equipment supplier to the semiconductor display and solar industries. The company's products are used to manufacture semiconductors, displays, and solar cells. Applied Materials is headquartered in Santa Clara, California, and has operations in more than 60 countries.