NASDAQAMAT Earnings Preview: What to Expect for Q3 FY24
Key Financial Metrics
NASDAQAMAT is anticipated to report earnings results for its third quarter of fiscal year 2024 (Q3 FY24) on Thursday, August 10th, after the closing bell.
In the previous quarter, Q2 FY24, the company reported revenue of $23.9 billion, a 5% increase year-over-year. Net income came in at $3.3 billion, down 2% from the same period last year.
For Q3 FY24, analysts are forecasting revenue of $24.5 billion and earnings per share (EPS) of $2.45.
Cash Flow and Shareholder Return
NASDAQAMAT generated $23.9 billion in cash from operations during Q2 FY24 and distributed $11.9 billion to shareholders, including $861 million in share repurchases.
The company has a strong track record of returning cash to shareholders through dividends and share buybacks.
Analyst Expectations
Analysts are generally positive on NASDAQAMAT's prospects. Needham analyst John Todaro maintained a "Buy" rating and lowered the price target from $160 to $130 on March 18, 2024.
Other analysts have also maintained positive ratings on the stock, citing the company's strong market position and growth potential.
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