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Applied Materials Announces 1Q 2020 Results

Quarterly revenue was $4.16 billion, up 11% 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 first quarter ended Jan. 26, 2020.

Applied generated revenue of $4.16 billion. On a GAAP basis, the company recorded gross margin of 44.6%, operating income of $1.04 billion or 25% of net sales, and earnings per share (EPS) of $0.96.

On a non-GAAP adjusted basis, the company reported gross margin of 44.9%, operating income of $1.07 billion or 25.7% of net sales, and EPS of $0.98.

The company returned $392 million to shareholders, including $200 million in share repurchases and dividends of $192 million.

“Applied Materials’ first quarter earnings exceeded the top-end of our guidance, giving us great momentum entering 2020,” said Gary Dickerson, president and CEO. “We believe we can deliver strong double-digit growth in our semiconductor business this year as our unique solutions accelerate our customers’ success in the AI-Big Data era.”

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