Applied Materials, Inc. (NASDAQ:AMAT) Q3 2024 Earnings Conference Call August 15, 2024 4:30 PM ET

Company Participants

Michael Sullivan - Corporate Vice President
Gary Dickerson - President & Chief Executive Officer
Brice Hill - Chief Financial Officer

Conference Call Participants

CJ Muse - Cantor Fitzgerald
Stacy Rasgon - Bernstein Research
Srini Pajjuri - Raymond James
Vivek Arya - Bank of America Securities
Chris Caso - Wolfe Research
Krish Sankar - TD Cowen
Joseph Moore - Morgan Stanley
Joe Quatrochi - Wells Fargo
Toshiya Hari - Goldman Sachs
Harlan Sur - JPMorgan
Charles Shi - Needham & Company
Brian Chin - Stifel
Blayne Curtis - Jefferies
Jed Dorsheimer - William Blair
Mehdi Hosseini - Susquehanna

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 2024 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 our website at ir.appliedmaterials.com.

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

Gary Dickerson

Thanks, Mike.

With record revenues in our third quarter, and earnings towards the high-end of our guided range, Applied Materials continues to deliver strong results in 2024. Secular trends are growing our available market, and our unique and connected portfolio of capabilities, products and services, positions us to outperform the industry over the longer term. At our recent investor event at SEMICON West, leaders from our semiconductor business shared their perspective on the powerful, multi-decade technology trends driving the industry forward, and explained the role Applied is playing to enable the next generations of semiconductor technology.

In today's call, I will summarize some of the key themes we talked about at that event including: how advancing energy-efficient computing performance is critical to deploying AI at scale, why the energy-efficient computing roadmap is increasingly enabled by materials engineering and Applied Materials, and how we are working in new ways to accelerate this complex roadmap and create new growth opportunities for Applied.