Applied Materials reported a strong fiscal year with record revenue and earnings, driven by growth in semiconductor systems, DRAM, and services. Despite challenges in China and some weakness in the ICAPS market, the company's strategic initiatives and increased shareholder returns contributed to a positive outlook.

Company Guidance

During the Q4 2024 earnings call for Applied Materials, the company provided guidance highlighting several key metrics. For fiscal Q1 2025, Applied Materials expects total revenue of $7.15 billion, plus or minus $400 million, representing an approximate 7% year-over-year increase. Additionally, non-GAAP EPS is projected at $2.29, plus or minus $0.18. The Semiconductor Systems revenue is anticipated to be approximately $5.3 billion, up 8% year-over-year, while AGS revenue is expected to reach approximately $1.65 billion, marking a 12% year-over-year increase. Display revenue is forecasted at approximately $175 million. The company also aims for a non-GAAP gross margin of approximately 48.4%, driven by favorable mix, cost, and pricing improvements, with non-GAAP operating expenses projected at around $1.33 billion. Applied Materials remains optimistic about its strategic positioning, emphasizing growth opportunities in energy-efficient computing and semiconductor architecture inflections.

Record Revenue and Growth

Applied Materials achieved record revenue and earnings for the fifth consecutive year in fiscal 2024, with net sales of $27.2 billion, up 2.5% year-over-year.

Strong Performance in Semiconductor Systems

Semiconductor system sales reached $5.18 billion in Q4, up 6% year-over-year, driven by leading-edge foundry-logic demand.

Impressive Growth in DRAM and Advanced Packaging

DRAM revenues grew by over 60% year-over-year, and advanced packaging product portfolio revenue was close to $1.7 billion, tripling in the last four years.

Growth in Services Business

Applied Global Services delivered record revenue of $1.64 billion in Q4, up 11% year-over-year, with a 10% increase in tools under service agreements.

Increased Shareholder Returns

The company distributed over $5 billion to shareholders via dividends and share repurchases in fiscal 2024.

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Applied Materials (AMAT) Earnings, Revenues Date & History

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AMAT Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Feb 13, 2025	2025 (Q1)	2.29 / -	2.13	―	―	―
Nov 14, 2024	2024 (Q4)	2.19 / 2.32	2.12	9.43% (+0.20)
Aug 15, 2024	2024 (Q3)	2.03 / 2.12	1.9	11.58% (+0.22)
May 16, 2024	2024 (Q2)	1.99 / 2.09	2	4.50% (+0.09)
Feb 15, 2024	2024 (Q1)	1.90 / 2.13	2.03	4.93% (+0.10)
Nov 16, 2023	2023 (Q4)	1.99 / 2.12	2.03	4.43% (+0.09)
Aug 17, 2023	2023 (Q3)	1.74 / 1.90	1.94	-2.06% (-0.04)
May 18, 2023	2023 (Q2)	1.84 / 2.00	1.85	8.11% (+0.15)
Feb 16, 2023	2023 (Q1)	1.93 / 2.03	1.89	7.41% (+0.14)
Nov 17, 2022	2022 (Q4)	1.73 / 2.03	1.94	4.64% (+0.09)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

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AMAT Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Nov 14, 2024	$185.56	$168.48	-9.20%
Aug 15, 2024	$210.93	$207.02	-1.85%
May 16, 2024	$212.73	$210.79	-0.91%
Feb 15, 2024	$186.20	$198.02	+6.35%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

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