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Applied Materials, Inc. (NASDAQ: AMAT ) on Thursday reported higher net income and revenue for the first quarter of 2023.
The semiconductor technology company’s adjusted earnings rose to $2.03 per share in the first quarter from $1.89 per share in the same period in 2022. Net income, including special items, was $1.72 billion or $2.02 per share in the January quarter, compared to $1.79 billion. or $2.0 per share at the end of the year.
Check out this space to read management/analyst commentary on monthly earnings
There was a 7% increase in net sales to $6.74 billion in the three months, mainly reflecting strong performance by the core Semiconductor Systems segment.
“Our resilience is supported by a strong position with key customers at key technology inflection points, a large backlog of differentiated products, and a growing services business,” said Gary Dickerson, the company’s CEO.
Previous Performance
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