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published in Blogs
Aug 21, 2021
Applied Materials (AMAT, $127.20) beats fiscal Q3 earnings expectations

Applied Materials (AMAT, $127.20) beats fiscal Q3 earnings expectations

Applied Materials  reported earnings that exceeded expectations for the fiscal 2021 third quarter, ended Aug. 1.

The semiconductor company’s earnings came in at  $1.87 per share, well above the $1.74 per share expected by analysts polled by FactSet. It was also up from 91 cents a share in the year-ago quarter.

Adjusted profit in the quarter was $1.90, exceeding analysts’ forecast of $1.77. That’s also up from $1.06 per share a year ago.

Revenue surged +41% from the year-ago quarter to $6.196 billion. The analyst consensus was $5.94 billion.

Looking ahead, Applied projects revenue of ~$6.33 billion in the current quarter, plus or minus $250 million. It expects non-GAAP adjusted diluted earnings per share  in the range of $1.87 and $2.01.

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