Applied Materials (NASDAQ:AMAT) earnings for fiscal second quarter of 2020 have AMAT stock taking a beating after-hours Thursday. That’s due to its adjusted earnings per share (EPS) of 89 cents missing Wall Street’s estimate of 95 cents. Its revenue of $3.96 billion also comes in below analysts’ estimates of $4.15 billion.
Let’s take a closer look at the most recent Applied Materials earnings report below.
- Adjusted per-share earnings are up 27% compared to 70 cents in the fiscal second quarter of 2019.
- Revenue for the quarter comes in 12% higher than the $3.54 billion reported in the same period of the year prior.
- Operating income of $932 million is a 20.1% increase year-over-year from $776 million.
- The Applied Materials earnings report also has net income coming in at $755 million.
- That’s a 13% jump over its net income of $666 million reported during the same time last year.
Gary Dickerson, president and CEO of Applied Materials, said this in the fiscal Q2 earnings report:
“As we navigate the challenges created by COVID-19, we have rallied the company around safety, productivity and keeping our customers and the industry moving forward. While the situation remains fluid, based on the visibility we have today, our supply chain is recovering, and underlying demand for our semiconductor equipment and services remains robust.”
Applied Materials doesn’t include an outlook in its current earnings report. That comes as no surprise with the novel coronavirus causing problems for the economy. Many other companies are also withholding guidance at this time.
AMAT stock was down 2.4% after markets closed on Thursday.
As of this writing, William White did not hold a position in any of the aforementioned securities.