Applied Materials Beats Forecasts for Earnings. The Stock Is Up.

📆 18/08/2023 00:53:00
📰 MarketWatch

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The analyst consensus for the equipment maker was for adjusted earnings per share of $1.74 for the July quarter, but the number came in at $1.90.

Applied Materials reported better than expected earnings for the July quarter, sending the stock higher in after-hours trading.

Applied Materials also forecast a range of potential revenue for the current quarter with a midpoint of $6.51 billion, compared with the consensus view of $5.87 billion. Applied Materials could beat Street estimates when the equipment maker reports earnings after the market close. “Outperformance is likely,” he wrote. “We expect the company to meet ours/consensus estimate…Applied revenue will remain substantially more buoyant than the broader” industry.

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