Chip equipment supplier Applied Materials reported better than expected fourth quarter earnings after the market close Thursday BUT guided lower. $AMAT fell 9% iniitally but rebounded to be up 1% by the end of the session.
Chip equipment supplier Applied Materials reported better than expected fourth quarter earnings after the market close Thursday BUT guided lower. $AMAT fell 9% initially but rebounded to be up by 1% the end of the session.
Applied Materials, Inc. NASDAQ: AMAT Reported Earnings After Close Thursday
$0.97 Beat $0.92 EPS AND $4.01B Beat $3.94 Billion Revenue Forecast
Applied Materials earned an adjusted 97 cents a share on sales of $4.01 billion for the quarter ended Oct. 28. On a year-over-year basis, earnings per share rose 4% while sales climbed 1%. Analysts had predicted the firm would earn 92 cents a share on sales of $3.94 billion. In the year-earlier period, Applied Materials earnings were $1.06 a share on sales of $4.2 billion.
Applied Materials, Inc. NASDAQ: AMAT
Market Reaction – Close Nov 16: $35.40 USD +0.38 (1.09%)
“While near-term market headwinds remain, overall industry spending remains robust, and we are focused on positioning Applied Materials for the long term, expanding our role in the A.I.-Big Data era and winning the major technology inflections ahead.”
- Applied Materials said it expects net sales to be in the range of $3.56 billion to $3.86 billion, and adjusted EPS to be in the range of $0.75 to $0.83.
- Analysts had forecast EPS of $0.92 and revenue of $3.94 billion for the January quarter
Other Equipment Makers Reactions – Close Nov 16 2018:
- Lam Research Corp NASDAQ: $LRCX $148.00 USD +1.60 (+1.09%)
- ASML Holding NV NASDAQ: $ASM $168.99 USD −7.80 (-4.41%)
- KLA-Tencor Corp NASDAQ: $KLAC $96.90 USD +2.46 (+2.60%)
- VanEck Vectors Semiconductor ETF $SMH $94.28 USD −1.63 (-1.70%)
Source: AMAT; AlphaStreet
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