The following is a summary of the Applied Materials, Inc. (AMAT) Q2 2024 Earnings Call Transcript:

Financial Performance:

• Applied Materials reported Q2 net sales of nearly $6.65 billion, a slight increase from previous quarters.

• AGS revenue grew 7% year over year to $1.53 billion.

• The company returned approximately $1.1 billion to shareholders, including $266 million in dividends and $820 million in buybacks.

• Non-GAAP gross margin increased by 70 basis points to 47.5%, while non-GAAP EPS grew by 4.5% to $2.09.

• For Q3, Applied Materials forecasts a revenue of $6.65 billion, plus or minus $400 million, and non-GAAP EPS of $2.01, plus or minus $0.18.

Business Progress:

• Revenues from the advanced packaging product portfolio is expected to grow to about $1.7 billion this year and possibly double in future.

• Applied Materials is targeting to generate more than $2.5 billion in revenue from gate-all-around nodes this year and expects this to potentially double in 2025.

• Applied Materials expects high-bandwidth memory (HBM) packaging revenue to scale to over $600 million.

• The company is on a path to establish a global EPIC platform to support next-generation technologies.

• The company is co-innovating with customers in technologies such as gate-all-around, eBeam, CMP, implant, and others.

• Applied Materials is planning to invest over $3 billion in R&D every year in the upcoming fiscal years.

• They expect the CFE systems revenue to grow around 4x in '24, accounting for about 50% of their total eBeam system sales.

More details: Applied Materials IR

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