Adjusted earnings moved up to $2.48 per share in the July quarter from $2.12 per share in the same period of 2024, exceeding expectations. Net income, on an unadjusted basis, was $1.78 billion or $2.22 per share in Q3, compared to $1.71 billion or $2.05 per share a year earlier.
Net revenue rose to $7.30 billion in the third quarter from $6.78 billion in the corresponding period of the previous year, reflecting a stable demand environment. The top line surpassed Wall Street’s expectations.
“We are expecting a decline in revenue in the fourth quarter driven by both digestion of capacity in China and nonlinear demand from leading-edge customers given market concentration and fab timing,” said Brice Hill, the company’s chief financial officer.
