Applied Materials Inc. shares fell under pressure in the extended session Thursday after the semiconductor-manufacturing equipment maker’s earnings topped Wall Street expectations for the quarter but its outlook came in lukewarm.
Applied... Applied Materials Inc. shares fell under pressure in the extended session Thursday after the semiconductor-manufacturing equipment maker’s earnings topped Wall Street expectations for the quarter but its outlook came in lukewarm. Applied Materials reported net income of $1.56 billion, or $1.86 a share, for the fiscal second quarter, compared with $1.54 billion, or $1.74 a share, in the year-ago period. Adjusted earnings, which excluded the effects of share-based compensation and other items, were $2 a share, compared with $1.85 a share in the year-ago period. Revenue rose to $6.63 billion from $6.25 billion in the year-ago quarter.
Analysts surveyed by FactSet had forecast adjusted earnings of $1.84 a share on revenue of $6.39 billion.