HomeBusinessAMAT Stock: Applied Materials Releases Beat-And-Raise Report

AMAT Stock: Applied Materials Releases Beat-And-Raise Report

Supplier of semiconductor equipment Applied materials (AMAT) beat estimates for the second fiscal quarter late Thursday and gave outsized guidance for the current period. But AMAT shares fell in extended trading.




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The Santa Clara, California-based company earned adjusted earnings of $2.09 per share on revenue of $6.65 billion in the quarter ended April 28. Analysts polled by FactSet expected earnings of $1.99 per share on revenue of $6.54 billion. In the same period last year, Applied Materials earned an adjusted $2 per share on revenue of $6.63 billion.

For the current quarter, Applied Materials expects adjusted earnings of $2.01 per share on revenue of $6.65 billion. That is based on the center of the guidance. Wall Street expected earnings of $1.98 per share on revenue of $6.59 billion in the fiscal third quarter. In the same period last year, Applied Materials earned an adjusted $1.90 per share on revenue of $6.43 billion.

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During after-hours trading on the stock market today, AMAT shares fell 1.5% to 210.90. During the regular session Thursday, AMAT stock fell 1.5% to close at 214.17.

On Wednesday, AMAT stock broke out of a flat base at a buy point of 214.91, according to IBD MarketSurge charts.

In addition, Applied Materials is on the IBD Tech Leaders list.

Details of the earnings report will follow.

Follow Patrick Seitz on X, formerly Twitter, at @IBD_PSeitz for more stories on consumer tech, software and semiconductor stocks.

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