Applied Materials achieved a 6% year-over-year growth in fiscal 2023 second quarter (February 1, 2023 through April 30, 2023) despite the challenging semiconductor market conditions.

Applied Materials announced on the 19th that for the fiscal 2023 second quarter ended April 30, global revenue under U.S. accounting standards was $6.63 billion with a gross margin of 46.7%.

Operating income and operating margin were $1.91 billion and 28.8%, respectively, and earnings per share (EPS) was $1.86.

On a non-GAAP basis, the company recorded a gross margin of 46.8%, operating income of $1.93 billion, operating margin of 29.1%, and earnings per share of $2.00.

Applied Materials generated $2.29 billion in cash from operating activities and returned a total of $1.02 billion to shareholders, including $800 million in share repurchases and $219 million in dividends.

Gary Dickerson, Chairman and CEO of Applied Materials, stated, "Applied Materials delivered strong results with revenue and earnings at the upper end of our second quarter guidance range, and we expect to outperform the market in 2023."

CEO Dickerson added, "As semiconductors become a critical and strategically important market globally, and key technology inflection points are being realized through materials engineering, Applied Materials is experiencing significant growth opportunities. Therefore, our long-term outlook is very positive."

For more details regarding Applied Materials' operating results, please visit the Applied Materials website.