Applied Materials Announces 4Q, Fiscal Year 2022 Results

Applied Materials, Inc. reported results for its fourth quarter and fiscal year ended Oct. 30, 2022.

Applied generated revenue of $6.75 billion in the fourth quarter of 2022. On a GAAP basis, the company achieved gross margin of 45.9%, operating income of $1.99 billion or 29.5% of net sales, and earnings per share (EPS) of $1.85.

On a non-GAAP adjusted basis, the company reported gross margin of 46.0%, operating income of $2.01 billion or 29.8% of net sales, and EPS of $2.03.

The company generated $857 million in cash from operations and returned $1.72 billion to shareholders, including $1.50 billion in share repurchases and $223 million in dividends.

In fiscal 2022, Applied generated revenue of $25.79 billion. On a GAAP basis, the company recorded gross margin of 46.5%, operating income of $7.79 billion or 30.2% of net sales, and EPS of $7.44.

On a non-GAAP adjusted basis, the company reported gross margin of 46.6%, operating income of $7.86 billion or 30.5% of net sales, and EPS of $7.70.

The company generated $5.4 billion in cash from operations and returned $6.98 billion to shareholders, including $6.10 billion in share repurchases and $873 million in dividends.

“Applied Materials delivered a strong finish to our fiscal year with record performance, and we remain focused on mitigating supply chain constraints and doing everything possible to meet customer demand,” said Gary Dickerson, president and CEO. “Though we are slowing the rate of spending growth in the near term amid geopolitical and macroeconomic challenges, we are making the strategic investments to win the major technology inflections that will enable Applied to outgrow the semiconductor market.”