Applied Materials Announces 1Q 2020 Results

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.”