- Applied Materials, Inc AMAT reported third-quarter revenue growth of 5% year-over-year to $6.52 billion, beating the consensus of $6.28 billion.
- Adjusted EPS was $1.94 (+2% Y/Y), beating the consensus of $1.79.
- Semiconductor Systems sales $4.73 billion (+6.3% Y/Y); Applied Global Services $1.42 billion (+10.4% Y/Y); and Display and Adjacent Markets $333 million (-22.7% Y/Y).
- The adjusted gross margin declined by 180 bps to 46.2%, and the adjusted operating margin contracted by 270 bps to 30%.
- Applied Materials cash provided by operating activities year-to-date totaled $4.54 billion, compared to $4.29 billion a year ago. It held cash and cash equivalents of $2.96 billion as of July 31, 2022.
- The company returned $1.23 billion to shareholders, including $1 billion in share repurchases and $225 million in dividends.
- 4Q22 Outlook: AMAT expects net sales of ~ $6.65 billion, plus or minus $400 million vs. consensus of $6.57 billion, and adjusted EPS of $1.82 to $2.18 vs. consensus of $1.94.
- Price Action: AMAT shares are trading higher by 4.09% at $112.70 during the post-market session on Thursday.
- Photo via Wikimedia Commons
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