Press release
Applied Materials Announces Second Quarter 2020 Results
Quarterly revenue of $3.96 billion, up 12 percent year over yearGAAP EPS of $0.82 and non-GAAP EPS of $0.89, up 17 percent and 27 percent year over year,
About this update from Applied Materials, Inc.
[{"type":"text","content":"Quarterly revenue of $3.96 billion, up 12 percent year over yearGAAP EPS of $0.82 and non-GAAP EPS of $0.89, up 17 percent and 27 percent year over year, respectively Returned $392 million to shareholders SANTA CLARA, Calif., May 14, 2020 (GLOBE NEWSWIRE) -- Applied Materials, Inc. (NASDAQ: AMAT) today reported results for its second quarter ended Apr. 26, 2020.\n Second Quarter Results Applied generated revenue of $3.96 billion. On a GAAP basis, the company recorded gross margin of 44.2 percent, operating income of $932 million or 23.6 percent of net sales, and earnings per share (EPS) of $0.82. On a non-GAAP adjusted basis, the company reported gross margin of 44.6 percent, operating income of $976 million or 24.7 percent of net sales, and EPS of $0.89. The company returned $392 million to shareholders including $199 million in share repurchases and dividends of $193 million. “As we navigate the challenges created by COVID-19, we have rallied the company around safety, productivity and keeping our customers and the industry moving forward,” said Gary Dickerson, president and CEO. “While the situation remains fluid, based on the visibility we have today, our supply chain is recovering, and underlying demand for our semiconductor equipment and services remains robust.” Quarterly Results Summary Q2 FY2020 Q2 FY2019 Change (In millions, except per share amounts and percentages)Net sales$3,957 $3,539 12%Gross margin44.2% 43.2% 1.0 pointsOperating margin23.6% 21.9% 1.7 pointsNet income$755 $666 13%Diluted earnings per share$0.82 $0.70 17%Non-GAAP Adjusted Results Non-GAAP adjusted gross margin44.6% 43.5% 1.1 pointsNon-GAAP adjusted operating margin24.7% 22.4% 2.3 pointsNon-GAAP adjusted net income$817 $660 24%Non-GAAP adjusted diluted EPS$0.89 $0.70 27% A reconciliation of the GAAP and non-GAAP adjusted results is provided in the financial tables included in this release. See also “Use of Non-GAAP Adjusted Financial Measures” section. Second Quarter Reportable Segment Information Semiconductor SystemsQ2 FY2020 Q2 FY2019 (In millions, except percentages)Net sales$2,567 $2,184 Foundry, logic and other56% 58%DRAM22% 18%Flash memory22% 24%Operating income782 579 Operating margin30.5% 26.5%Non-GAAP Adjusted Results Non-GAAP adjusted operating income$798 $589 Non-GAAP adjusted operating margin31.1% 27.0% Applied Global ServicesQ2 FY2020 Q...