Applied Materials (NASDAQ:AMAT) earnings for the company’s fiscal fourth quarter of 2019 have AMAT soaring in after-hours trading on Thursday. The company reported Non-GAAP earnings per share of 80 cents and revenue of $3.75 billion. Wall Street was expecting EPS of 76 cents on revenue of $3.68 billion.
Let’s take a closer look at the most recent Applied Materials earnings report.
- Non-GAAP per-share earnings are down 5.88% from 85 cents in the same period of the year prior.
- Revenue is largely unchanged from the $3.76 billion reported in fiscal Q4 of 2018.
- Operating income in the Applied Materials earnings report is sitting at $864 million.
- That’s a 3.03% drop YoY from the company’s previous operating income of $891 million.
- Net income for the quarter comes in at $698 million.
- This is a 7.79% decrease compared to AMAT’s net income of $757 million during the same time last year.
Gary Dickerson, President and CEO of Applied Materials, says this about the AMAT stock earnings for fiscal Q4.
“Applied Materials’ fourth quarter results reflect a healthy uptick in demand for semiconductor equipment, combined with strong execution across the company. The semiconductor industry is increasingly adopting a new playbook for improving chip performance, power, area and cost, and we are investing in unique solutions to enable our customers’ success in the AI-Big Data era.”
The Applied Materials earnings report also includes its outlook for the fiscal first quarter of 2020. This includes Non-GAAP earnings per share ranging from 87 cents to 95 cents. It also expects revenue of $4.10 billion, give or take $150 million. Wall Street is looking for EPS of 74 cents on revenue of $3.71 billion.
AMAT stock was up 3.90% after markets closed on Thursday.
As of this writing, William White did not hold a position in any of the aforementioned securities.
