Everything you need to know about Applied Materials’ (AMAT) Q2 earnings

Applied Materials, Inc. (NASDAQ: AMAT) on Thursday announced financial results for the second quarter of 2023, reporting a 6% increase in net sales.

Adjusted earnings of the semiconductor technology company moved up to $2.00 per share in the second quarter from $1.85 per share in the same period of 2022. Net income, including special items, was $1.58 billion or $1.86 per share in the April quarter, compared to $1.54 billion or $1.74 per share last year.

There was a 6% increase in net sales to $6.63 billion during the three-month period, mainly reflecting continued strong performance by the core Semiconductor Systems segment.

“Our longer-term outlook is very positive as semiconductors become a larger and more strategically important market globally and major technology inflections are enabled by materials engineering, creating outsized growth opportunities for Applied,” said Gary Dickerson, the company’s CEO.

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