Applied Materials, Inc. (NASDAQ: AMAT) on Thursday announced financial results for the fourth quarter of 2023, reporting an increase in adjusted profit.
Adjusted earnings of the semiconductor technology company increased to $2.12 per share in the October quarter from $2.03 per share in the same period of 2022. Net income, including special items, was $2.0 billion or $2.38 per share in the fourth quarter, compared to $1.59 billion or $1.85 per share last year.
Net sales were broadly unchanged at $6.72 billion during the three-month period. The company generated $1.56 billion in cash from operations and distributed $968 million to shareholders.
“Applied’s broad product portfolio, strong customer relationships, and leadership at major technology inflections put us in a great position to profitably grow the company as powerful trends fuel the semiconductor industry’s expansion in the years ahead,” said Gary Dickerson, the company’s CEO.
Prior Performance
The post AMAT Earnings: Highlights of Applied Materials’ Q4 2023 report first appeared on AlphaStreet.
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