Applied Materials Profit Falls, But Beats Wall Street Targets

Date : 05/16/2019 @ 9:39PM
Source : Dow Jones News
Stock : Applied Materials, Inc. (AMAT)
Quote : 39.5  -0.44 (-1.10%) @ 12:06AM

Applied Materials Profit Falls, But Beats Wall Street Targets

Applied Materials, Inc. (NASDAQ:AMAT)
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1 Month : From Apr 2019 to May 2019

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   By Bowdeya Tweh 
 

Applied Materials Inc. (AMAT) posted a weaker second-quarter profit, as semiconductor equipment suppliers continue to face weak market conditions.

The California supplier of equipment, services and software for semiconductor and display companies said Thursday its second-quarter profit was $666 million, or 70 cents a share, down from $1.1 billion, or $1.06 a share, a year earlier.

Revenue fell 23% to $3.54 billion.

Excluding items, Applied Materials' profit was 70 cents a share.

Analysts polled by FactSet had expected adjusted earnings of 66 cents a share on about $3.5 billion in revenue.

Gross margin fell to 43.2% from 44.9% a year earlier.

 

Write to Bowdeya Tweh at bowdeya.tweh@wsj.com

 

(END) Dow Jones Newswires

May 16, 2019 16:24 ET (20:24 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.

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