Applied Materials Delivers Upbeat Guidance as Q1 Results Top Expectations



© Reuters.

By Yasin Ebrahim

Investing.com – Applied Materials (NASDAQ:) reported Thursday first-quarter that topped expectations and delivered an upbeat second-quarter outlook amid an acceleration in chip demand that has bolstered growth.

Applied Materials was flat in after-hours trade.

Applied Materials announced earnings per share of $1.39 on revenue of $5.16B. Analysts polled by Investing.com anticipated EPS of $1.28 on revenue of $4.97B.

“In our first fiscal quarter, we’ve seen a continued acceleration of demand in our semiconductor business as major macro and industry trends fuel increasing consumption of silicon across a wide range of markets and applications,” said Gary Dickerson, president and CEO.

Looking ahead to the second quarter, the company forecast adjusted diluted EPS in the range of $1.44 to $1.56 on sales of about $5.39 billion, plus or minus $200 million, beating estimates for EPS of $1.28 on sales of $4.97 billion.

Foundry, logic and other sales were up 58% in Q4 year-on-year, while DRAM and flash memory grew 17% and 25% respectively.

Applied Materials shares are up 31% from the beginning of the year, still down 6.32% from its 52 week high of $121.06 set on February 16. They are outperforming the which is up 5.81% from the start of the year.

Stay up-to-date on all of the upcoming earnings reports by visiting Investing.com’s earnings calendar

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

READ  Carnival Corp Earnings, Revenue beat in Q4

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





READ SOURCE

LEAVE A REPLY

Please enter your comment!
Please enter your name here