Applied Materials Earnings: Here’s Why the Stock is Down Now
Applied Materials Inc. (NASDAQ:AMAT) delivered a profit and missed Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are down 2.51%.
Applied Materials Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 25% to $0.18 in the quarter versus EPS of $0.24 in the year-earlier quarter.
Revenue: Decreased 15.71% to $1.98 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Applied Materials Inc. reported adjusted EPS income of $0.18 per share. By that measure, the company missed the mean analyst estimate of $0.19. It missed the average revenue estimate of $2.06 billion.
Quoting Management: “Consumers` appetite for mobile devices and larger TVs is driving healthy demand for our semiconductor and display equipment,” said Mike Splinter, chairman and chief executive officer. “We are seeing stronger investment by our memory customers, and our display business booked its highest orders in over two years.”
Key Stats (on next page)…