Applied Materials (AMAT) late Thursday beat **** yst estimates for its fiscal third quarter and with its guidance for fiscal Q4. But AMAT stock slid in extended trading.
The semiconductor equipment giant earned an adjusted $3.50 a share on sales of $9.12 billion in the quarter ended July 26. **** ysts polled by FactSet had expected earnings of $3.40 a share on sales of $9 billion in fiscal Q3. On a year-over-year basis, Applied Materials earnings increased 41% while sales rose 25%.
For the current quarter, the Santa Clara, Calif.-based company forecast adjusted earnings of $4.02 a share on sales of $10.25 billion. Wall Street had been modeling earnings of $3.71 a share on sales of $9.55 billion in fiscal Q4. In the same quarter last year, Applied Materials earned an adjusted $2.17 a share on sales of $6.8 billion.
"As the rapid global adoption of AI drives unprecedented demand for our materials engineering solutions, we are further raising our Semiconductor Systems revenue expectations for calendar 2026 and are confident we will grow faster than the market this year," Chief Executive Gary **** erson said in a news release.
He added, "Based on the increased demand visibility we are receiving from our customers, we expect another strong growth year for Applied Materials in 2027."
#adjusted
The semiconductor equipment giant earned an adjusted $3.50 a share on sales of $9.12 billion in the quarter ended July 26. **** ysts polled by FactSet had expected earnings of $3.40 a share on sales of $9 billion in fiscal Q3. On a year-over-year basis, Applied Materials earnings increased 41% while sales rose 25%.
For the current quarter, the Santa Clara, Calif.-based company forecast adjusted earnings of $4.02 a share on sales of $10.25 billion. Wall Street had been modeling earnings of $3.71 a share on sales of $9.55 billion in fiscal Q4. In the same quarter last year, Applied Materials earned an adjusted $2.17 a share on sales of $6.8 billion.
"As the rapid global adoption of AI drives unprecedented demand for our materials engineering solutions, we are further raising our Semiconductor Systems revenue expectations for calendar 2026 and are confident we will grow faster than the market this year," Chief Executive Gary **** erson said in a news release.
He added, "Based on the increased demand visibility we are receiving from our customers, we expect another strong growth year for Applied Materials in 2027."
#adjusted
3 months ago
