Applied Materials Exceeds Q3 Expectations, Boosted by Semiconductor Demand
Strong Sales Forecast Points to Continued Growth
Key Performance Indicators
- Revenue of $6.78 billion, surpassing estimates of $6.67 billion (WEB)
- Cash generation of $2.39 billion from operations
- Distribution of $1.19 billion to shareholders, including $861 million in share repurchases (WEB)
- Shares rose 1.7% in early trading Friday (WEB)
Applied Materials, Inc. (NASDAQ: AMAT), the leading U.S. chip-manufacturing equipment maker, posted impressive results for the fiscal third quarter. The company's revenue beat expectations, driven by increased demand for semiconductors. CEO Gary Dickerson attributed the strong performance to "a robust recovery in semiconductor demand" (WEB).
Applied Materials generated a total of $6.78 billion in revenue, exceeding the average estimate of $6.67 billion (WEB). This represented a 3.2% increase from the previous quarter. The company's semiconductor systems segment, which accounts for approximately 75% of its revenue, performed particularly well. This segment grew by 5.5% compared to the previous quarter (WEB).
Beyond its financial performance, Applied Materials provided a positive sales forecast for the future. The company expects fourth-quarter revenue to range between $6.9 billion and $7.2 billion, which would translate to a year-over-year growth rate of approximately 12% (WEB). This outlook reflects continued optimism in the semiconductor industry, which is driven by the increasing adoption of advanced technologies such as artificial intelligence, cloud computing, and 5G.
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