Applied Materials, Inc. reported strong financial performance for its first fiscal quarter ended January 26, 2025, achieving record revenue and record non-GAAP earnings per share of $2.39. The company's President and CEO, Gary Dickerson, highlighted the accelerating industry drive towards advanced compute and sophisticated AI as a key momentum driver.
Despite the robust Q1 results, Applied Materials provided a second-quarter fiscal 2025 revenue forecast of approximately $6.7 billion, which fell below market estimates. The non-GAAP diluted EPS guidance of approximately $2.11 also missed analyst expectations of $2.39 per share.
The weaker outlook was attributed to escalating geopolitical tensions and soft demand for memory chips used in consumer electronics, which are expected to weigh on sales of its chipmaking equipment. CFO Brice Hill acknowledged export control-related headwinds while noting continued customer investments in leading-edge technology inflections.
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