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Applied Materials Announces 2Q 2020 Results

Quarterly revenue of $3.96 billion is up 12% year over year.

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By: DAVID SAVASTANO

Contributing Editor, Coatings World and Ink World, Coatings World and Ink World Magazine

Applied Materials, Inc.  reported results for its second quarter ended April 26, 2020.

Applied generated revenue of $3.96 billion, up 12% year-over-year. On a GAAP basis, the company recorded gross margin of 44.2%, operating income of $932 million or 23.6% of net sales, and earnings per share (EPS) of $0.82.

On a non-GAAP adjusted basis, the company reported gross margin of 44.6%, operating income of $976 million or 24.7% of net sales, and EPS of $0.89.

The company returned $392 million to shareholders including $199 million in share repurchases and dividends of $193 million.

“As we navigate the challenges created by COVID-19, we have rallied the company around safety, productivity and keeping our customers and the industry moving forward,” said Gary Dickerson, president and CEO. “While the situation remains fluid, based on the visibility we have today, our supply chain is recovering, and underlying demand for our semiconductor equipment and services remains robust.”

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