greeksoup/ stocks
Stocks / United States / AMAT / Q3 FY2024

Applied Materials Inc. Q3 FY2024 results: revenue $6.8 billion, up 5.5% on the year

Applied Materials Inc. (AMAT) reported revenue of $6.8 billion for Q3 FY2024, the quarter ended 28 July 2024, up 5.5% on the same quarter a year earlier. Net income was $1.7 billion, up 9.3% on the year, and diluted earnings per share $2.05. The figures are the company's own, from the 10-Q it filed with the SEC on 22 August 2024.

Revenue$6.8 billionup 5.5%
Net income$1.7 billionup 9.3%
Diluted EPS$2.05
QuarterQ3 FY2024ended 28 July 2024

The quarter, against the one before and a year earlier

LineQ3 FY2024Q2 FY2024A year earlierChange on the year
Revenue6,7786,646n/an/a
Cost of revenue3,5733,493n/an/a
Gross profit3,2053,153n/an/a
Gross margin47.3%47.4%n/a
Research and development836785n/an/a
Operating income1,9421,912n/an/a
Operating margin28.7%28.8%n/a
Interest expense63.059.0n/an/a
Pre-tax income1,9601,994n/an/a
Income tax255272n/an/a
Effective tax rate13.0%13.6%n/a
Net income1,7051,722n/an/a
Net margin25.2%25.9%n/a
Diluted EPS$2.05$2.06n/an/a

$ million except per share. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow and capital returned

LineQ3 FY2024Q2 FY2024A year earlierChange on the year
Operating cash flow2,3851,392n/an/a
Capital expenditure297257n/an/a
Free cash flow2,0881,135n/an/a
Free cash flow margin30.8%17.1%n/a
Depreciation and amortisation95.096.0n/an/a
Share-based compensation132134n/an/a
Buybacks861820n/an/a
Dividends paid331266n/an/a
Dividend per share$0.40$0.40n/an/a
Diluted shares, weighted833m836mn/an/a
Shares outstanding at period end824m828mn/an/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

LineQ3 FY2024Q2 FY2024A year earlierChange on the year
Total assets33,64731,949n/an/a
Cash and equivalents8,2887,085n/an/a
Receivables4,9704,778n/an/a
Inventory5,5685,691n/an/a
Goodwill3,7323,732n/an/a
Long-term debt6,1585,463n/an/a
Operating lease liabilities239260n/an/a
Shareholders' equity18,84018,199n/an/a

Quarterly results, the last 12 quarters

Q4 FY2023 *Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026Q3 FY2026
Revenue6,7236,7076,6466,7787,0457,1667,1007,3026,8007,0127,9109,115
Cost of revenue3,5543,5033,4933,5733,7103,6703,6153,7403,5353,5773,9634,529
Gross profit3,1693,2043,1533,2053,3353,4963,4853,5623,2653,4353,9474,586
Gross margin47%48%47%47%47%49%49%49%48%49%50%50%
R&D7897547858368588598939019179281,0271,100
SG&An/an/an/an/an/a462423428455411397411
Operating income1,9711,9671,9121,9422,0462,1752,1692,2331,7121,8312,5233,075
Operating margin29%29%29%29%29%30%31%31%25%26%32%34%
Interest expense58.059.059.063.066.064.068.066.071.069.069.068.0
Pre-tax income2,1722,3031,9941,9601,8952,1192,3222,5632,2672,3283,2252,907
Tax rate8%12%14%13%9%44%8%31%16%13%13%13%
Net income2,0042,0191,7221,7051,7311,1852,1371,7791,8972,0262,8062,538
Net margin30%30%26%25%25%17%30%24%28%29%35%28%
Diluted EPS$2.38$2.41$2.06$2.05$2.09$1.45$2.63$2.22$2.36$2.54$3.51$3.17
Operating cash flow1,5552,3251,3922,3852,5759251,5712,6342,8281,6868453,037
Capital expenditure309229257297407381510584785646635707
Free cash flow1,2462,0961,1352,0882,1685441,0612,0502,0431,0402102,330
Buybacks7007008208611,4421,3181,6701,056851337400440
Dividends paid268266266331329326325368365365365420
Shares outstanding833m831m828m824m818m812m802m797m793m794m794m794m
Filing10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Source

10-Q for the period ended 28 July 2024, filed 22 August 2024, accession 0000006951-24-000032: the filing on EDGAR. All of Applied Materials Inc.'s filings: EDGAR company page.

The same record on your computer

GreekSoup is also a free program for your own computer. It reads these same filings for the names you follow, refreshed as they land, with no account. One pasted line installs it.

Install