Applied Materials Full Year 2023 Earnings: EPS Beats Expectations

Applied Materials (NASDAQ:AMAT) Full Year 2023 Results

Key Financial Results

• Revenue: US$26.5b (up 2.8% from FY 2022).
• Net income: US$6.86b (up 5.1% from FY 2022).
• Profit margin: 26% (in line with FY 2022).
• EPS: US$8.16 (up from US$7.49 in FY 2022).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Applied Materials EPS Beats Expectations

Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 6.2%.

The primary driver behind last 12 months revenue was the Semiconductor Systems segment contributing a total revenue of US$19.7b (74% of total revenue). Notably, cost of sales worth US$14.1b amounted to 53% of total revenue thereby underscoring the impact on earnings. The largest operating expense was Research & Development (R&D) costs, amounting to US$3.10b (56% of total expenses). Explore how AMAT's revenue and expenses shape its earnings.

Looking ahead, revenue is forecast to grow 4.6% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Semiconductor industry in the US.

Performance of the American Semiconductor industry.

The company's shares are down 1.4% from a week ago.

Balance Sheet Analysis

While earnings are important, another area to consider is the balance sheet. We have a graphic representation of Applied Materials' balance sheet and an in-depth analysis of the company's financial position.

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