Tuesday, August 22, 2023

Applied Materials Surges on Impressive Q3 Earnings and Bullish Guidance

Applied Materials Inc. (NASDAQ: AMAT) witnessed a robust surge of nearly 4% in after-hours trading following the release of its third-quarter financial results that significantly outperformed expectations. The semiconductor capital equipment manufacturer reported adjusted earnings of $1.90 per share on $6.43 billion in revenue for the quarter ending July 30. 

Notably, the company's strategic focus on foundry and logic revenue paid off, accounting for 79% of quarterly sales compared to 66% in the prior year's quarter. Additionally, Applied Materials generated a substantial $2.58 billion in cash from operations during this period. The company's bullish performance extended to its outlook, with fourth-quarter net sales projected at approximately $6.51 billion, accompanied by adjusted earnings per share ranging from $1.82 to $2.18. These figures comfortably exceeded analyst estimates, highlighting Applied Materials' robust position in the semiconductor industry.

Applied Materials, Inc. (AMAT) Q3 2023 Earnings Call TranscriptSA TranscriptsThu, Aug. 17

Applied Materials, Inc. 2023 Q3 - Results - Earnings Call PresentationSA TranscriptsThu, Aug. 17

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