Applied Materials Announces 2Q 2019 Results

Applied Materials, Inc. reported results for its second quarter ended April 28, 2019. Applied generated revenue of $3.54 billion. On a GAAP basis, the company recorded gross margin of 43.2%, operating income of $776 million or 21.9% of net sales, and earnings per share (EPS) of $0.70.
 
On a non-GAAP adjusted basis, the company reported gross margin of 43.5%, operating income of $794 million or 22.4% of net sales, and EPS of $0.70.
 
The company returned $814 million to shareholders including $625 million in share repurchases and dividends of $189 million. As previously announced on March 8, 2019, Applied’s Board of Directors approved a five% increase in the quarterly cash dividend from $0.20 to $0.21 per share.
 
“In the second fiscal quarter, Applied Materials delivered results toward the top-end of our guidance range, reflecting solid execution across the company in a business environment that remains challenging,” said Gary Dickerson, president and CEO. “Looking ahead, we maintain a positive view of our markets as powerful new demand drivers for semiconductors and displays take shape, creating tremendous opportunities for Applied Materials.”