Applied Materials, Inc. (NASDAQ:AMAT) reported its fourth-quarter results after Thursday's closing bell. Here's a look at the details from the report.
The Details: Applied Materials reported quarterly earnings of $2.32 per share, which beat the analyst consensus estimate of $2.19. Quarterly revenue clocked in at $7.05 billion, which beat the analyst consensus estimate of $6.95 billion and is an increase over sales of $6.72 billion from the same period last year.
The company reported a gross margin of 47.5% and a record operating income of $2.06 billion or 29.3% of net revenue.
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“Applied Materials’ technology leadership and strong execution drove record Q4 and fiscal 2024 performance, our fifth consecutive year of growth,” said Gary Dickerson, president and CEO.
“Our portfolio of products and services uniquely positions us to enable our customers in their pursuit of AI and energy-efficient computing. As these key drivers of semiconductor innovation continue to grow in importance, the industry’s roadmap is becoming increasingly dependent on materials engineering, where Applied is the clear leader,” Dickerson added.
Outlook: In the first quarter of fiscal 2025, Applied expects net revenue to be approximately $7.15 billion, plus or minus $400 million. Non-GAAP diluted EPS is expected to be approximately $2.29, plus or minus 18 cents.
AMAT Price Action: According to Benzinga Pro, Applied Materials shares are down 3.84% after-hours at $178.87 at the time of publication Thursday.
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