- Applied Materials, Inc (NASDAQ:AMAT) approved a 23.1% hike in the quarterly cash dividend from $0.26 to $0.32 per share.
- The board also approved a new share buyback of an additional $10 billion.
- “The dividend increase, our largest in five years, and the new share repurchase authorization reflect our positive long-term view of the semiconductor market and our confidence in Applied’s outsized growth opportunities driven by our technology leadership, broad portfolio of differentiated products and strong customer engagements,” said Gary Dickerson, President, and CEO.
- In February, Applied Materials said fiscal first-quarter revenue increased 7% year-over-year to $6.74 billion, which beat consensus estimates of $6.69 billion.
- The chip manufacturing equipment supplier reported quarterly earnings of $2.03 per share, which beat average analyst estimates of $1.93 per share.
- Applied Materials generated $2.27 billion in operating cash flow and held $4.05 billion in cash and equivalents as of January 29.
- Price Action: AMAT shares traded lower by 0.34% at $114 premarket on the last check Monday.
French Fashion Giant LVMH Records 3% Organic Revenue Growth In Q1: Details
LVMH-Moet Hennessy Louis Vuitton records €20.7 billion revenue in Q1 FY24, with organic growth at 3%. Despite a 2% decline, the Fashion & Leather Goods business group sees a 2% organic revenue increase, while the Perfumes & Cosmetics business group records 7% organic growth.
