The company said net revenue was relatively flat for the 3 and 6 months ended April 28, 2024. It said the decline in customer investment in semiconductor equipment was offset by higher revenue from long-term service agreements, 200mm equipment and display manufacturing equipment.

10-QQuarterly reportFiled May 23, 2024Period of report Apr 28, 2024Summary published (UTC) Oct 24, 2026

Key points

AI summary

The company said net revenue was relatively flat for the 3 and 6 months ended April 28, 2024. It said the decline in customer investment in semiconductor equipment was offset by higher revenue from long-term service agreements, 200mm equipment and display manufacturing equipment.
Applied Materials said gross margin for the 3 months ended April 28, 2024 increased from the same period a year earlier. It cited lower material, freight and logistics costs, changes in customer and product mix and a decrease in inventory reserves as factors, partly offset by higher labor costs.
The company said cash flow from operating activities for the 6 months ended April 28, 2024 was $3.7 billion. It said it used $2.2 billion in financing activities over the same period, mainly for share repurchases of $1.5 billion and dividends to stockholders of $532 million.
The company said its Board of Directors declared a quarterly cash dividend of $0.32 per share in December 2023 and $0.40 per share in March 2024. It said about $11.2 billion remained available under its stock repurchase program as of April 28, 2024.

Key figures

Quarter ended April 28, 2024

Revenue: $6.6B
Operating income: $1.9B
Net income: $1.7B
EPS: $2.06
Gross profit: $3.2B

From the XBRL financial data filed with the SEC · not processed by AI.

Summary

AI-written

Analysis scope · Management's discussion (MD&A)We analyzed the Management's Discussion and Analysis (MD&A) section. Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

Flat Quarterly and Six-Month Net Revenue; Segment Trends

The company said net revenue was relatively flat for the 3 and 6 months ended April 28, 2024. It said the decline in customer investment in semiconductor equipment was offset by higher revenue from long-term service agreements, 200mm equipment and display manufacturing equipment.

Source · Based on the MD&A text of the filing

Drivers of gross margin increase over 3 months

Applied Materials said gross margin for the 3 months ended April 28, 2024 increased from the same period a year earlier. It cited lower material, freight and logistics costs, changes in customer and product mix and a decrease in inventory reserves as factors, partly offset by higher labor costs.

Source · Based on the MD&A text of the filing

6-Month Operating Cash Flow and Financing Outflows

The company said cash flow from operating activities for the 6 months ended April 28, 2024 was $3.7 billion. It said it used $2.2 billion in financing activities over the same period, mainly for share repurchases of $1.5 billion and dividends to stockholders of $532 million.

Source · Based on the MD&A text of the filing

Dividend Declarations and Remaining Buyback Authorization

The company said its Board of Directors declared a quarterly cash dividend of $0.32 per share in December 2023 and $0.40 per share in March 2024. It said about $11.2 billion remained available under its stock repurchase program as of April 28, 2024.

Source · Based on the MD&A text of the filing

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.

View the original filing on SEC EDGAR ↗

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