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Applied Materials, Inc. (NASDAQ:AMAT) reported a third-quarter earnings beat on Thursday.
Adjusted earnings came in at 74 cents per share, beating estimates by 4 cents. Sales came in at $3.56 billion, beating estimates by $40 million.
"Applied Materials is delivering solid financial performance in a market environment that remains challenging for the time being," said CEO Gary Dickerson. "We are excited about the company's future opportunities and are fully funding our R&D programs to develop new products and capabilities that will accelerate customers' roadmaps and underpin our growth in the years ahead."
Highlights
- $724 million returned to shareholders
- Gross margin of 43.7%
- Operating income of $820 million
Applied Materials shares traded higher by 2% to $48.11 in the after-hours session. The stock closed at $47.16 per share.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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