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
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.
Be the first to comment