Applied Materials Profit Falls, But Beats Wall Street Targets
May 16 2019 - 4:39PM
Dow Jones News
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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