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APPLIED MATERIALS® NEWS RELEASE APPLIED MATERIALS ANNOUNCES FIRST QUARTER 2021 RESULTS Exhibit 99.1 Record quarterly revenue of $ 5.16 billion , up 24 percent year over year • Quarterly GAAP EPS of $ 1.22 and record non - GAAP EPS of $ 1.39 , up 27 percent and 42 percent year over year , respectively Generated $ 1.42 billion in cash from operations SANTA CLARA , Calif . , Feb. 18 , 2021 - Applied Materials , Inc. ( NASDAQ : AMAT ) today reported results for its first quarter ended Jan. 31 , 2021 . First Quarter Results Applied generated revenue of $ 5.16 billion . On a GAAP basis , the company recorded gross margin of 45.5 percent , operating income of $ 1.28 billion or 24.9 percent of net sales , and earnings per share ( EPS ) of $ 1.22 . On a non - GAAP adjusted basis , the company reported gross margin of 45.9 percent , operating income of $ 1.50 billion or 29.0 percent of net sales , and EPS of $ 1.39 . The company generated $ 1.42 billion in cash from operations and paid dividends of $ 201 million to shareholders . " In our first fiscal quarter , we've seen a continued acceleration of demand in our semiconductor business as major macro and industry trends fuel increasing consumption of silicon across a wide range of markets and applications , " said Gary Dickerson , president and CEO . " We have strong momentum across the company , as our broad portfolio and exposure to technology inflections , combined with the traction of our new products , put us in a great position to substantially outgrow our markets again in 2021 and beyond . "