Applied Materials Announces Third Quarter 2023 Results

About Applied Materials

Applied Materials, Inc. (Nasdaq: AMAT) is the leader in materials engineering solutions used to produce virtually every new chip and advanced display in the world. Our expertise in modifying materials at atomic levels and on an industrial scale enables customers to transform possibilities into reality. At Applied Materials, our innovations make possible a better future. Learn more at www.appliedmaterials.com.

Contact:

Ricky Gradwohl (editorial/media) 408.235.4676
Michael Sullivan (financial community) 408.986.7977


APPLIED MATERIALS, INC.
UNAUDITED CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS

 Three Months Ended Nine Months Ended
(In millions, except per share amounts)July 30,
2023
 July 31,
2022
 July 30,
2023
 July 31,
2022
Net sales$6,425 $6,520  $19,794 $19,036 
Cost of products sold 3,449  3,514   10,579  10,144 
Gross profit 2,976  3,006   9,215  8,892 
Operating expenses:       
Research, development and engineering 767  705   2,313  2,045 
Marketing and selling 193  180    584     520  
General and administrative   214     197       635     537  
Severance and related charges                 (4 )
Total operating expenses   1,174     1,082       3,532     3,098  
Income from operations   1,802     1,924       5,683     5,794  
Interest expense   60     56       180     171  
Interest and other income (expense), net   64     (7 )     41     27  
Income before income taxes   1,806     1,861       5,544     5,650  
Provision for income taxes   246     255       692     716  
Net income $ 1,560   $ 1,606     $ 4,852   $ 4,934  
Earnings per share:              
Basic $ 1.86   $ 1.86     $ 5.76   $ 5.63  
Diluted $ 1.85   $ 1.85     $ 5.73   $ 5.59  
Weighted average number of shares:              
Basic   838     864       842     877  
Diluted   843     869       846     883  



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