Applied Materials Inc.
Applied Materials Reports Fourth Quarter and Fiscal Year 2024 Financial Results
Summary
Applied Materials, Inc. announced its financial results for the fourth quarter and fiscal year ended October 27, 2024. The company reported quarterly revenue of $7.05 billion, a 5% increase year over year, and annual revenue of $27.18 billion, up 2% from the previous year. On a GAAP basis, the company's quarterly earnings per share (EPS) were $2.09, down 12% year over year, and annual GAAP EPS were $8.61, up 6%. Non-GAAP EPS for the quarter was $2.32, up 9% year over year, and annual non-GAAP EPS were $8.65, up 7%. The company also provided financial statements and reconciliations in the accompanying exhibit.
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Exhibits (1)
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About Applied Materials Inc.
Applied Materials Inc. is a leading provider of innovative equipment, services, and software for the global semiconductor industry. Specializing in the development of materials engineering solutions, the company's products play a crucial role in the production of advanced semiconductor chips, which are essential components in electronic devices. Applied Materials' equipment is widely used in the manufacturing processes for a variety of industries, including consumer electronics, computer systems, communications infrastructure, and automotive components. Notably, Applied Materials offers solutions for deposition, removal, patterning, and inspection, serving the needs of chipmakers aiming to improve performance, energy consumption, and computational power of their semiconductor devices. With a focus on cutting-edge research and development, the company continually advances the technology landscape, enabling trends like artificial intelligence, internet of things (IoT), and data center expansion. In the financial market, Applied Materials Inc. holds a significant position due to its impact on technology advancements and its partnerships with leading tech and electronics companies. Headquartered in Santa Clara, California, the company's innovations underpin the critical supply chains of the high-tech and electronics industries worldwide.
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