Applied Materials: Overview of Fiscal Second Quarter Results


SANTA CLARA, Calif. (AP) _ Applied Materials Inc. (AMAT) reported second-quarter net profit of $1.54 billion on Thursday.

On a per-share basis, the Santa Clara, Calif.-based company said it had net income of $1.74. Earnings, adjusted for one-time costs, were $1.85 per share.

The results were below Wall Street expectations. The average estimate of 10 analysts polled by Zacks Investment Research was for earnings of $1.89 per share.

The chip-making equipment maker posted revenue of $6.25 billion during the period, which also missed Street’s forecast. Seven analysts polled by Zacks expected $6.35 billion.


For the current quarter ending August, Applied Materials expects earnings per share to be between $1.59 and $1.95. Analysts polled by Zacks had forecast adjusted earnings per share of $2.04.

The company said it expects revenue in the range of $5.85 billion to $6.65 billion for the third fiscal quarter. Analysts polled by Zacks expected revenue of $6.68 billion.

Applied Materials shares have fallen 29% year-to-date, while the S&P 500 index has fallen 18%. In the final minutes of trading Thursday, shares hit $111.10, down 11% in the past 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AMAT at https://www.zacks.com/ap/AMAT

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