Applied Materials reports Q2 beat & strong guidance By Investing.com

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Applied Materials reports Q2 beat & strong guidance

Published May 18, 2023 16:58

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Applied Materials reports Q2 beat & strong guidance

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Applied Materials (NASDAQ:AMAT) reported its Q2 earnings, with EPS of $2.00 coming in better than the consensus estimate of $1.84. Revenue grew 6% year-over-year to $6.63 billion, beating the consensus estimate of $6.39B.

“Our longer-term outlook is very positive as semiconductors become a larger and more strategically important market globally and major technology inflections are enabled by materials engineering, creating outsized growth opportunities for Applied,” said CEO Gary Dickerson.

For Q3/23, the company expects EPS to be in the range of $1.56-$1.92, compared to the consensus of $1.65. Revenue is expected to be $6.15B, above the consensus estimate of $6.02B.

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