Applied Materials, Inc. (NASDAQ: AMAT) on Wednesday reported higher earnings and revenues for the first quarter of 2022.
Adjusted net income increased 36% year-over-year to $1.89 per share during the first three months of fiscal 2022. Net income was $1.79 billion or $2.00 per share, compared to $1.13 billion or $1.22 per share last year.
Read management/analysts’ comments on Applied Materials’ Q1 earnings
The positive bottom-line performance reflects a 21% increase in revenues to $6.27 billion, with the core Semiconductor Systems segment accounting for nearly three-fourths of the total sales