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Chip equipment supplier Applied Materials $AMAT reported better than expected fiscal third quarter ended July 30 earnings after the market close Thursday. $AMAT raised its Guidance with the stock up 4% in the after hours market.

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The company and others in the semiconductor capital equipment sector have been benefiting from chipmakers and display manufacturers upgrading their factories to make the latest technologies for hot sectors including gaming, data and machine learning.

Earnings: Adjusted income of 86 cents, beating the consensus estimate of 84 cents. Revenue of $3.74 billion, beating the consensus estimate of $3.69 billion and up 33% from the year-ago quarter. 

Reaction: Applied Materials, Inc. NASDAQ: AMAT After-hours44.59 +1.47 (+3.41%). Prior to the report  $AMAT was up 34% this year.

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Guidance: 

For its fiscal fourth quarter, Applied Materials said it expects revenue to be in the range of $3.85 billion to $4 billion, the midpoint of the range would be an increase of about 19% year-over-year. The consensus estimate was $3.7 billion. It expects adjusted earnings in the range of 86 cents to 94 cents, The consensus estimate is 82 cents, the midpoint of the range would be an increase of about 36% year-over-year.

 

Source: AMAT; AlphaStreet

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