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 | |||||||||
