Applied Materials, Inc. (NASDAQ: AMAT) on Thursday reported higher adjusted earnings and revenues for the first quarter of 2023.
Adjusted earnings of the semiconductor technology company increased to $2.03 per share in the first quarter from $1.89 per share in the same period of 2022. Net income, including special items, was $1.72 billion or $2.02 per share in the January quarter, compared to $1.79 billion or $2.0 per share last year.
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There was a 7% increase in net sales to $6.74 billion during the three-month period, mainly reflecting continued strong performance by the core Semiconductor Systems segment.
“Our resilience is underpinned by our strong positions with leading customers at key technology inflections, large backlog of differentiated products, and growing service business,” said Gary Dickerson, the company’s CEO.
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