Applied Materials (AMAT) Stock Slides 5% After Earnings Weren’t Quite Enough
TLDR
- Applied Materials reported adjusted EPS of $3.50, beating the $3.40 consensus estimate, with revenue of $9.12 billion vs. the $9 billion forecast.
- GAAP earnings came in at $3.17 per share, missing estimates, partly due to a $220 million unrealized investment loss.
- The stock fell 4.9% to $508.30 in Friday premarket trading.
- Q4 guidance came in well above expectations: revenue of $10.25 billion vs. the $9.55 billion analyst forecast.
- DRAM accounted for 26% of semiconductor systems revenue in Q3, up from 22% a year ago.
Applied Materials (AMAT) dropped 4.9% to $508.30 in Friday premarket trading after its fiscal third-quarter results failed to excite investors, even as the numbers topped Wall Street estimates.
Adjusted EPS came in at $3.50, up from $2.48 a year ago and ahead of the $3.40 analyst consensus per FactSet. Revenue grew 25% year over year to $9.12 billion, beating the $9 billion forecast.
On a GAAP basis, however, earnings were $3.17 per share, falling short of estimates. A $220 million unrealized investment loss was the main drag on the headline number.
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