Applied Materials Inc. delivered upbeat outcomes and steering Thursday afternoon, and its inventory surged within the prolonged session.
The chip-equipment firm logged fiscal-first quarter web earnings of $2.02 billion, or $2.41 a share, in contrast with $1.72 billion, or $2.02 a share, within the year-prior quarter.
On an adjusted foundation, Applied Materials
AMAT,
earned $2.13 a share, up from $2.03 a share a yr earlier than, whereas analysts tracked by FactSet had been modeling $1.90 a share.
Net income inched decrease to $6.71 billion from $6.74 billion, however got here in above consensus forecasts, which had been for $6.48 billion.
The inventory rose 12% in after-hours motion Thursday.
Read: Super Micro’s inventory has surged 900% in a yr. Why BofA is making a ‘buy’ name.
“Our leadership positions at key semiconductor inflections support continued outperformance as customers ramp next-generation chip technologies critical to AI and IoT [Internet of Things] over the next several years,” Chief Executive Gary Dickerson stated in a launch.
The firm expects $6.1 billion to $6.9 billion in income for the continuing quarter, with the midpoint of that forecast — $6.5 billion — beating out the $6.34 billion FactSet consensus.
Applied Materials additionally fashions $1.79 to $2.15 in adjusted earnings per share, the midpoint of which is $1.97. Analysts had been modeling $1.80.
See additionally: Nvidia discloses positions in SoundHound AI, Arm — and these different shares
Source web site: www.marketwatch.com
