Applied Materials' 2Q Results Miss Wall Street Projections Amid Pandemic -- Earnings Review
May 14 2020 - 4:52PM
Dow Jones News
By Maria Armental
Applied Materials Inc., a manufacturer of the equipment used to
make computer chips, reported second-quarter results on Thursday,
showing the early impact of the coronavirus pandemic on its
operations. Here's what you need to know.
PROFIT: Net income rose to $755 million, or 82 cents a share,
from $666 million, or 70 cents a share. On an adjusted basis, the
profit was 89 cents a share. Analysts surveyed by FactSet expected
91 cents a share in profit, or 93 cents as adjusted.
REVENUE: Net sales rose to $3.96 billion from $3.54 billion a
year earlier. Analysts expected about $4.09 billion.
PANDEMIC: "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," Chief Executive Gary Dickerson said in a
statement.
Write to Maria Armental at maria.armental@wsj.com
(END) Dow Jones Newswires
May 14, 2020 16:37 ET (20:37 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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