Applied Materials, Inc. (AMAT) Q3 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

remarks, all participants will be in a listen-only mode. Afterwards, there will be a question and answer session. I would now like to turn the call over to Liz Morali, Vice President of Investor Relations. Liz, you may begin. Thank you. Good afternoon and thank you for joining us for today's call. With me today are Gary Dickerson, President and CEO, and Bryce Hill, CFO. Before we continue, let me remind you that today's discussion contains forward-looking statements within the meaning of the federal securities laws, including predictions, estimates, projections, or other statements about future events. Actual results may differ materially from those mentioned in these forward-looking statements as a result of risks and uncertainties. Information concerning these risks and uncertainties is discussed in our most recent Form 10-K, 10-Q, and 8-K filings with the SEC. We do not intend to update any forward-looking statements. During today's call, we will also reference non-GAAP financial measures. Reconciliations of GAAP to non-GAAP results can be found in today's earnings press release and in our quarterly earnings materials, which are available on our Investor Relations website at .appliedmaterials.com. I will now turn the call over to Gary. Thanks, Liz. In our third fiscal quarter of 2025, applied materials delivered record performance fueled by strong, broad-based demand for semiconductor systems and services. However, as you will see in our guidance, we expect revenue and earnings to be sequentially lower in our fourth quarter, primarily due to uncertainties in our China business. Even with this Q4 forecast, we remain on track to achieve a -single-digit growth rate in fiscal 2025, which will be our sixth consecutive year of revenue growth. In my prepared remarks toda...