Applied Materials reported a 5% increase in non-GAAP EPS to $2.09 for its second accounting quarter on Thursday evening, but a 0.1-point drop in non-GAAP operating margin to 29%, on stable revenues of $6.65 billion.

"The group continues to perform strongly in 2024, with quarterly sales and earnings near the upper end of our guidance ranges," notes CEO Gary Dickerson.

'Applied Materials has the most favorable portfolio of materials engineering technologies for chips that underpin tectonic shifts in technology, including AI, IoT, electric vehicles and clean energy', he continues.

For its third accounting quarter, the semiconductor industry equipment supplier anticipates non-GAAP EPS of between $1.83 and $2.19, as well as sales of around $6.65 billion, give or take $400 million.

Copyright (c) 2024 CercleFinance.com. All rights reserved.