Summary by Moomoo AI
Applied Materials, Inc. reported a solid financial performance for the quarter ended July 28, 2024, with net revenue increasing to $6.778 billion from $6.425 billion in the same period the previous year. The company's operating income rose to $1.942 billion from $1.802 billion, while net income grew from $1.560 billion to $1.705 billion. Earnings per diluted share also saw an increase from $1.85 to $2.05. The company's gross margin improved by 1.0 point to 47.3%, and operating margin increased by 0.7 points to 28.7%. Applied Materials operates in three segments: Semiconductor Systems, Applied Global Services, and Display and Adjacent Markets, with Semiconductor Systems being the largest revenue contributor. The company saw increased investments in DRAM technology transitions and long-term service agreements, although there was a decrease in spending on leading-edge...Show More