Income Statement
Quarterly Data
The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.
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- Balance Sheet: Assets
- Cash Flow Statement
- Analysis of Profitability Ratios
- Analysis of Short-term (Operating) Activity Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Analysis of Reportable Segments
- Analysis of Geographic Areas
- Price to Earnings (P/E) since 2005
- Price to Operating Profit (P/OP) since 2005
- Price to Sales (P/S) since 2005
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Applied Materials Inc., consolidated income statement (quarterly data)
US$ in millions
Based on: 10-Q (reporting date: 2025-07-27), 10-Q (reporting date: 2025-04-27), 10-Q (reporting date: 2025-01-26), 10-K (reporting date: 2024-10-27), 10-Q (reporting date: 2024-07-28), 10-Q (reporting date: 2024-04-28), 10-Q (reporting date: 2024-01-28), 10-K (reporting date: 2023-10-29), 10-Q (reporting date: 2023-07-30), 10-Q (reporting date: 2023-04-30), 10-Q (reporting date: 2023-01-29), 10-K (reporting date: 2022-10-30), 10-Q (reporting date: 2022-07-31), 10-Q (reporting date: 2022-05-01), 10-Q (reporting date: 2022-01-30), 10-K (reporting date: 2021-10-31), 10-Q (reporting date: 2021-08-01), 10-Q (reporting date: 2021-05-02), 10-Q (reporting date: 2021-01-31), 10-K (reporting date: 2020-10-25), 10-Q (reporting date: 2020-07-26), 10-Q (reporting date: 2020-04-26), 10-Q (reporting date: 2020-01-26), 10-K (reporting date: 2019-10-27), 10-Q (reporting date: 2019-07-28), 10-Q (reporting date: 2019-04-28), 10-Q (reporting date: 2019-01-27).
- Net Revenue
- The net revenue exhibited a general upward trend over the analyzed periods, starting from $3,753 million and gradually increasing to $7,302 million. Despite slight fluctuations, the overall trajectory suggests steady growth, with notable acceleration seen from early 2021 onward.
- Cost of Products Sold
- Cost of products sold increased over time, rising from $2,088 million to $3,740 million. While costs have escalated, the rate of increase appears roughly proportional to revenue growth, maintaining a relatively stable cost structure.
- Gross Profit
- Gross profit rose consistently from $1,665 million to $3,562 million. The gross margin showed resilience despite increasing costs, indicating effective control of production expenses relative to revenue growth.
- Research, Development and Engineering Expenses
- Expenses in research, development, and engineering steadily increased from $516 million to $901 million. This rise indicates ongoing investment in innovation and product development, reflecting the company's focus on sustaining competitive advantage.
- Marketing and Selling Expenses
- Marketing and selling costs also grew gradually, from $131 million to $224 million, suggesting increased efforts in market penetration and customer acquisition consistent with revenue expansion.
- General and Administrative Expenses
- General and administrative expenses evidenced a climbing trend from $110 million to $204 million, though with some volatility including a peak at $276 million. This increase may relate to scaling operations and corporate overhead.
- Severance and Related Charges and Deal Termination Fee
- These non-recurring charges appeared only in late 2020 and early 2021, consisting of severance costs around $152 million and a deal termination fee of $154 million, indicating one-time expenses impacting operating results in those quarters.
- Operating Expenses
- Operating expenses increased overall from $757 million to approximately $1,329 million, reflecting the combined rise in R&D, marketing, administrative expenses, as well as occasional non-recurring charges.
- Income from Operations
- Income from operations grew from $908 million to $2,233 million, showing solid expansion driven by revenue growth and controlled expense increases, despite sporadic higher operating costs.
- Interest Expense
- Interest expense remained fairly stable near $60 million throughout the periods, showing consistent debt servicing costs without substantial increases.
- Interest and Other Income (Expense), Net
- This line item demonstrated considerable variability, fluctuating from positive values in the tens to a very high peak of $395 million, reflecting irregular financial income or expense items affecting pre-tax earnings.
- Income before Income Taxes
- Pre-tax income showed strong growth from $888 million to $2,563 million, following the upward path of operating income but influenced by fluctuations in interest and other income.
- Provision for Income Taxes
- Provision for income taxes displayed considerable volatility, ranging from -$93 million to a very large charge of -$934 million. The variation suggests changing effective tax rates or irregular tax-related events impacting net profitability.
- Net Income
- Net income increased significantly from $771 million to $1,779 million, despite some quarters with reduced earnings. This improvement indicates overall enhanced profitability due to revenue growth and effective expense management, although tax volatility introduces some earnings variability.