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.”