AMAT Stock: Applied Materials Releases Strong Quarterly Report

Applied Materials (AMAT), a leading semiconductor equipment vendor based in Santa Clara, California, reported better-than-expected results for its fiscal second quarter and provided guidance that outperformed expectations for the current period. Despite this positive news, AMAT stock declined in after-hours trading.

For the quarter ended April 28, the company earned an adjusted $2.09 per share on sales of $6.65 billion, surpassing analysts’ expectations. In the same period last year, Applied Materials earned an adjusted $2 per share on sales of $6.63 billion. Looking ahead to the current quarter, the company anticipates earnings of $2.01 per share on sales of $6.65 billion, based on the midpoint of its guidance. This forecast outperforms Wall Street’s expectations of $1.98 per share on sales of $6.59 billion for the fiscal third quarter. In the previous year’s third quarter, Applied Materials earned an adjusted $1.90 per share on sales of $6.43 billion.

Despite the positive earnings and guidance, AMAT stock declined by 1.5% in after-hours trading to $210.90

By Sophia Gonzalez

As a content writer at newsgreg.com, I am dedicated to crafting engaging stories that captivate our readers. With a knack for turning complex topics into accessible and compelling narratives, I weave words together to inform and inspire. My passion lies in delivering accurate and thought-provoking content that keeps our audience informed and entertained. From breaking news stories to in-depth features, I strive to bring a fresh perspective to every piece I create. Join me on this journey of exploration and discovery through the power of words at newsgreg.com.

Leave a Reply