AMAT Earnings: Everything you need to know about Applied Materials’ Q1 report

Applied Materials, Inc. (NASDAQ: AMAT) on Thursday announced financial results for the first quarter of 2024, reporting an increase in adjusted profit. Adjusted earnings of the semiconductor technology company increased to $2.13 per share in the January quarter from $2.03 per share in the same period of 2023. Net income, including special items, was $2.02 […]

February 15, 2024 1 min read

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Applied Materials, Inc. (NASDAQ: AMAT) on Thursday announced financial results for the first quarter of 2024, reporting an increase in adjusted profit. Adjusted earnings of the semiconductor technology company increased to $2.13 per share in the January quarter from $2.03 per share in the same period of 2023. Net income, including special items, was $2.02 […]
· February 15, 2024

Applied Materials, Inc. (NASDAQ: AMAT) on Thursday announced financial results for the first quarter of 2024, reporting an increase in adjusted profit.

Applied Materials Q1 2024 earnings infographic

Adjusted earnings of the semiconductor technology company increased to $2.13 per share in the January quarter from $2.03 per share in the same period of 2023. Net income, including special items, was $2.02 billion or $2.41 per share in the first quarter, compared to $1.72 billion or $2.02 per share last year.

Net revenue came in at $6.71 billion during the three months, compared to $6.74 billion in the prior-year quarter. The company generated $2.33 billion in cash from operations in Q1.

“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,” said Gary Dickerson, the company’s CEO.