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Q2 performance of applied materials exceeded expectations by 6% compared to the same period last year

Recently, semiconductor equipment giant Applied Materials (AMAT) released its second quarter financial report. The financial report shows that the operating revenue of Applied Materials reached $6.63 billion, a year-on-year increase of 6%. After adjustment, the net profit per share after tax was $2.0, a month on month increase of 8%. The financial performance of the operating conditions exceeded analysts' expectations.

The financial report shows that based on GAAP (Generally Accepted Accounting Principles), the company's gross profit margin is 46.7%, operating profit is $1.91 billion, accounting for 28.8% of net sales, and earnings per share (EPS) is $1.86. On an adjusted non GAAP basis, the company's gross profit margin is 46.8%, operating profit is $1.93 billion, accounting for 29.1% of net sales, and earnings per share are $2. The company achieved cash flow from operating activities of $2.29 billion and returned $1.02 billion to shareholders through a $800 million stock repurchase and $219 million dividend payout.


Image source: Official website of Applied Materials

From a departmental revenue perspective, Applied Materials' Semiconductor Systems, Applied Global Services, and Display&Adjacent Markets generated revenue of $4.977 billion, $1.428 billion, and $168 million, respectively, accounting for 36%, 29%, and 13% of revenue.

In terms of semiconductor system revenue, the annual growth rate of semiconductor system revenue in the second quarter of Applied Materials was 11.6%, reaching $4.977 billion in revenue. In terms of applied materials, the company's main revenue sources are wafer foundry and semiconductor manufacturing equipment for logic chips, which account for 84% of the revenue, a significant increase from 65% in the same period last year; DRAM equipment accounts for 11%, which has decreased compared to the same period last year (21%); The proportion of NAND devices has also declined to 5%. Application materials point out that due to Samsung and other storage product manufacturers reducing their annual capital expenditure or production, it has had a certain negative impact on their performance.

Gary Dixon, President and CEO of Applied Materials, stated: Applied Materials Company performed strongly in the second fiscal quarter, with both revenue and earnings reaching the high points within the guidance range. It is expected that the company will continue to lead the market in 2023. We are very optimistic about the company's long-term development prospects. On the one hand, semiconductors have become a larger and more strategically important market globally, and on the other hand, materials engineering has made key technological nodes possible for Applied Materials Company The company has created huge growth opportunities

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