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16.02.2024

Company news: Applied Materials (AMAT) quarterly results beat analysts’ forecasts

Applied Materials (AMAT) reported Q1 FY2024 earnings of $2.13 per share (versus $2.03 per share in Q1 FY2023), beating analysts’ consensus estimate of $1.90 per share.

The company’s quarterly revenues amounted to $6.710 bln (-0.4% y/y), beating analysts’ consensus estimate of $6.483 bln.

The company also issued in-line guidance for Q2 FY2024, seeing EPS of $1.79-$2.15 versus analysts’ consensus estimate of $1.80 and revenues of $6.50 bln, +/- $400 mln, equating to revenue of $6.10-$6.90 bln versus analysts’ consensus estimate of $6.34 bln.

AMAT rose to $212.50 (+13.24%) in pre-market trading.

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