Applied Materials, Inc. reported strong results for its second fiscal quarter ended April 27, 2025, with total net revenue reaching $7.1 billion, a 7% increase year-over-year. The company achieved a record non-GAAP earnings per share of $2.39, up 14% year-over-year, and a non-GAAP gross margin of 49.2%, its highest since fiscal year 2000.
The strong performance was driven by increased leading-edge foundry-logic investments and growth across all business segments, including a 45% year-over-year surge in Display revenue to $259 million. Applied Materials generated approximately $1.6 billion in cash from operations and distributed nearly $2 billion to shareholders through dividends and share repurchases during the quarter.
For the third fiscal quarter of 2025, Applied Materials provided an optimistic outlook, projecting total revenue of $7.2 billion, plus or minus $500 million, and non-GAAP diluted EPS of $2.35, plus or minus $0.20. This guidance, which is above Wall Street estimates, anticipates continued acceleration in leading-edge foundry logic investments and a stable DRAM market, driven by high-performance, energy-efficient AI computing.
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