Applied Materials, a global leader in materials engineering solutions, achieved record-breaking quarterly results in the first quarter of 2022 amid a market boom for supply chain expansion.

Applied Materials announced on the 18th its earnings for the first quarter of fiscal year 2022, ended January 30.

According to this, global sales in the first quarter of fiscal year 2022 recorded $6.27 billion under U.S. accounting standards, a 21% increase from the same period of the previous year, and a gross profit margin of 47.2%.

Operating profit and operating profit margin were $1.98 billion and 31.5%, respectively, and earnings per share (EPS) was $2.

On a non-GAAP basis, it recorded a gross profit margin of 47.3%, an operating profit of $1.99 billion, an operating profit margin of 31.7%, and earnings per share of $1.89.

Applied generated $2.66 billion in cash from operating activities and returned a total of $2.002 billion to shareholders, including $1.8 billion in share buybacks and $214 million in dividends.

Gary Dickerson, Chairman and CEO of Applied Materials, stated, “Despite supply chain challenges, we are doing our best to deliver products to our customers on time. As a result, we recorded our highest-ever quarterly revenue.” He added, “Given the long-term trends indicating structural expansion of the market, the business outlook for 2022 and the future is very positive.” "In addition, Applied, with its broad technology portfolio, is expected to capture a high market share," they stated.

Applied Materials revenue for the second quarter of fiscal year 2022 is expected to be $6.35 billion within a margin of $300 million. This estimate accounts for ongoing supply chain issues, and non-GAAP diluted earnings per share are projected to be between $1.75 and $2.05.

Further details regarding Applied Materials' performance can be found on the Applied Materials website.