Applied Materials (NASDAQ:AMAT) earnings for the semiconductor company’s fiscal third quarter of 2020 have AMAT up after markets closed on Thursday. That’s thanks to its adjusted earnings per share of $1.06 on revenue of $4.4 billion. Both of these are better than Wall Street’s estimates of 95 cents per share and revenue of $4.18 billion.
Here are some additional highlights from the most recent Applied Materials earnings report.
- Adjusted per-share earnings are up 43% from 74 cents during the same time last year.
- Revenue for the quarter is sitting 23% higher than the $3.56 billion reported in fiscal Q3 2019.
- Operating income of $1.11 billion is a 38.4% increase year-over-year from $802 million.
- The Applied Materials earnings report also has it bringing in a net income of $841 million.
- That’s a 47% jump from the company’s net income of $571 million in the same period of the year prior.
Gary Dickerson, president and CEO of Applied Materials, said this about the earnings results.
“Thanks to the hard work and agility of our employees and suppliers, Applied Materials is operating at pre-COVID levels of productivity and delivering outstanding financial results. By addressing our customers’ highest value problems, Applied is outperforming today and is positioned to grow faster than our markets over the next several years.”
Applied Materials includes guidance for its fiscal fourth quarter of 2020 in the current earnings report. It expects adjusted EPS of $1.11 to $1.23 and revenue of $4.6 billion. Wall Street’s fiscal Q4 estimates are for adjusted EPS of $1.02 on revenue of $4.36 billion.
AMAT stock was up 1% after-hours Thursday but closed out normal trading hours down 2.2%.
As of this writing, William White did not hold a position in any of the aforementioned securities.