Press release
Applied Materials Announces Second Quarter 2022 Results
Quarterly revenue of $6.25 billion, up 12 percent year over yearGAAP operating margin of 30.3 percent and non-GAAP operating margin of 30.6 percent, up 2.0
About this update from Applied Materials, Inc.
[{"type":"text","content":"Quarterly revenue of $6.25 billion, up 12 percent year over yearGAAP operating margin of 30.3 percent and non-GAAP operating margin of 30.6 percent, up 2.0 points and down 1.1 points year over year, respectivelyGAAP EPS of $1.74 and non-GAAP EPS of $1.85, up 22 percent and 13 percent year over year, respectively SANTA CLARA, Calif., May 19, 2022 (GLOBE NEWSWIRE) -- Applied Materials, Inc. (NASDAQ: AMAT) today reported results for its second quarter ended May 1, 2022. Second Quarter Results Applied generated revenue of $6.25 billion. On a GAAP basis, the company achieved gross margin of 46.9 percent, operating income of $1.89 billion or 30.3 percent of net sales, and earnings per share (EPS) of $1.74. On a non-GAAP adjusted basis, the company reported gross margin of 47.0 percent, operating income of $1.91 billion or 30.6 percent of net sales, and EPS of $1.85. The company generated $415 million in cash from operations and returned $2.01 billion to shareholders including $1.80 billion in share repurchases and $211 million in dividends. “Demand for Applied Materials’ products and services has never been stronger, yet we remain constrained by on-going supply chain issues,” said Gary Dickerson, President and CEO. “Our priority is to work quickly and creatively across the supply chain to bring more industry capacity on-line, while accelerating the technology inflections that we believe will enable Applied to outgrow the semiconductor market in the years ahead.” Results Summary Q2 FY2022 Q2 FY2021 Change (In millions, except per share amounts and percentages)Net sales$6,245 $5,582 12%Gross margin 46.9% 47.5% (0.6) pointsOperating margin 30.3% 28.3% 2.0 pointsNet income$1,536 $1,330 15%Diluted earnings per share$1.74 $1.43 22%Non-GAAP Adjusted Results Non-GAAP adjusted gross margin 47.0% 47.7% (0.7) pointsNon-GAAP adjusted operating margin 30.6% 31.7% (1.1) pointsNon-GAAP adjusted net income$1,636 $1,509 8%Non-GAAP adjusted diluted EPS$1.85 $1.63 13% 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. Business Outlook In the third quarter of fiscal 2022, Applied expects net sales to be approximately $6.25 billion, plus or minus $400 million, which includes the expected impact of ongoing supply chain chall...