Applied Materials Earnings: Here’s Why Investors are Selling Shares Now
Applied Materials Inc. (NASDAQ:AMAT) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are down 0.41%.
Applied Materials Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 40.74% to $0.16 in the quarter versus EPS of $0.27 in the year-earlier quarter.
Revenue: Decreased 22.35% to $1.97 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Applied Materials Inc. reported adjusted EPS income of $0.16 per share. By that measure, the company beat the mean analyst estimate of $0.13. It beat the average revenue estimate of $1.91 billion.
Quoting Management: “For the second quarter in a row, Applied had strong order performance of over $2 billion,” said Mike Splinter, chairman and chief executive officer. “We are seeing increasing pull from some of our largest strategic customers for our key enabling technologies. We remain committed to driving profitable growth.”
Key Stats (on next page)…