Applied Materials, Inc. (NASDAQ:AMAT) Q3 2023 Earnings Conference Call August 17, 2023 4:30 PM ET

Company Participants

Michael Sullivan - Corporate Vice President

Gary Dickerson - President and Chief Executive Officer

Brice Hill - Senior Vice President and Chief Financial Officer

Conference Call Participants

Stacy Rasgon - Bernstein

C.J. Muse - Evercore ISI

Vivek Arya - Bank of America Merrill Lynch

Krish Sankar - Cowen

Toshiya Hari - Goldman Sachs

Harlan Sur - JPMorgan

Timothy Arcuri - UBS Securities

Joe Quatrochi - Wells Fargo

Joseph Moore - Morgan Stanley

Brian Chin - Stifel

Timm Schulze-Melander - Redburn

Charles Shi - Needham & Company

Operator

Welcome to the Applied Materials Earnings Conference Call. During the presentation, all participants will be in a listen-only mode. Afterwards, you will be invited to participate in a question-and-answer session.

I would now like to turn the conference over to Michael Sullivan, Corporate Vice President. Please go ahead, sir.

Michael Sullivan

Good afternoon, everyone, and thank you for joining Applied's third quarter of fiscal 2023 earnings call.

Joining me are Gary Dickerson, our President and CEO, and Brice Hill, our Chief Financial Officer.

Before we begin, I'd like to remind you that today's call contains forward-looking statements which are subject to risks and uncertainties that could cause our actual results to differ. Information concerning the risks and uncertainties is contained in Applied's most recent Form 10-Q filing with the SEC.

Today's call also includes non-GAAP financial measures. Reconciliations to GAAP measures are found in today's earnings press release and in our quarterly earnings materials, which are available on the IR page of our website at appliedmaterials.com.

And with that introduction, I'd like to turn the call over to Gary Dickerson.

Gary Dickerson

Thank you, Mike.

In our third fiscal quarter, Applied Materials delivered results at the high-end of our guidance range. Across the business, our teams are executing well. We are making incremental improvements in our operations as we productively scale the company, and we're driving our technology roadmap, introducing enabling new products and solutions for our customers.

In my prepared remarks today, I will start with our big picture view of the IoT-AI era and how this is driving growth and innovation across the industry. I'll then summarize Applied's strategy and how this is enabling us to outgrow the industry this year while also positioning us for sustained outperformance over the longer-term. And finally, I'll cover our near-term performance and outlook, including some recent business highlights.