Applied Materials, Inc. (NASDAQ: AMAT) reported revenue of $6.65 billion for the second quarter of 2024, which remained flat year-over-year.
GAAP net income increased 9% to $1.72 billion and EPS rose 11% to $2.06 compared to last year. Adjusted EPS grew 5% to $2.09.
Revenue and earnings beat expectations.
For the third quarter of 2024, the company expects net revenue to be approx. $6.65 billion, plus or minus $400 million. Adjusted EPS is expected to range between $1.83-2.19.