05.19.23
Applied Materials, Inc. reported results for its second quarter ended April 30, 2023.
Applied generated revenue of $6.63 billion. On a GAAP basis, the company achieved gross margin of 46.7%, operating income of $1.91 billion or 28.8% of net sales, and earnings per share (EPS) of $1.86.
On a non-GAAP adjusted basis, the company reported gross margin of 46.8%, operating income of $1.93 billion or 29.1% of net sales, and EPS of $2.00. The company generated $2.29 billion in cash from operations and returned $1.02 billion to shareholders including $800 million in share repurchases and $219 million in dividends.
“Applied Materials delivered strong results in our second fiscal quarter with revenues and earnings in the high-end of our guidance range, and we expect to outperform our markets in 2023,” said Gary Dickerson, president and CEO. “Our longer-term outlook is very positive as semiconductors become a larger and more strategically important market globally and major technology inflections are enabled by materials engineering, creating outsized growth opportunities for Applied.”
In the third quarter of fiscal 2023, Applied expects net sales to be approximately $6.15 billion, plus or minus $400 million. Non-GAAP adjusted diluted EPS is expected to be in the range of $1.56 to $1.92.
Applied generated revenue of $6.63 billion. On a GAAP basis, the company achieved gross margin of 46.7%, operating income of $1.91 billion or 28.8% of net sales, and earnings per share (EPS) of $1.86.
On a non-GAAP adjusted basis, the company reported gross margin of 46.8%, operating income of $1.93 billion or 29.1% of net sales, and EPS of $2.00. The company generated $2.29 billion in cash from operations and returned $1.02 billion to shareholders including $800 million in share repurchases and $219 million in dividends.
“Applied Materials delivered strong results in our second fiscal quarter with revenues and earnings in the high-end of our guidance range, and we expect to outperform our markets in 2023,” said Gary Dickerson, president and CEO. “Our longer-term outlook is very positive as semiconductors become a larger and more strategically important market globally and major technology inflections are enabled by materials engineering, creating outsized growth opportunities for Applied.”
In the third quarter of fiscal 2023, Applied expects net sales to be approximately $6.15 billion, plus or minus $400 million. Non-GAAP adjusted diluted EPS is expected to be in the range of $1.56 to $1.92.
