Applied Materials Inc. (AMAT) has announced its financial results for the third quarter of the fiscal year 2024, which ended on July 28, showing a record sales figure. The company reported global sales of $6.78 billion, marking a 5% increase from the same period last year, with a gross profit margin of 47.3%. Operating income and operating margin were reported at $1.94 billion and 28.7%, respectively, and diluted earnings per share (EPS) reached $2.05.

Under non-GAAP (Generally Accepted Accounting Principles) measures, AMAT recorded a gross profit margin of 47.4%, operating income of $1.95 billion, an operating margin of 28.8%, and diluted EPS of $2.12.

The company secured $2.39 billion in cash from operating activities and returned a total of $1.19 billion to shareholders, including $861 million for share repurchases and $331 million in dividends.

Gary Dickerson, President and CEO of Applied Materials, stated, "Applied Materials achieved record sales that exceeded the expectations for the quarter, driven by increasing demand for our unique and connected portfolio of products and services, which are leadership in AI competition."