Applied Materials' 4Q Results, 1Q Guidance Beat Wall Street Forecasts -- Earnings Review

Date : 11/14/2019 @ 9:39PM
Source : Dow Jones News
Stock : Applied Materials Inc (AMAT)
Quote : 47.3  2.25 (4.99%) @ 11:52PM
After Hours
Last Trade
Last $ 47.45 ▲ 0.15 (0.32%)

Applied Materials' 4Q Results, 1Q Guidance Beat Wall Street Forecasts -- Earnings Review

Applied Materials (NASDAQ:AMAT)
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6 Months : From Sep 2019 to Mar 2020

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   By Maria Armental 

Applied Materials Inc., a maker of the equipment used to make computer chips, reported fourth-quarter results on Thursday. Here's what you need to know:

PROFIT: Net income fell 8% to $698 million, or 75 cents a share. On an adjusted basis, profit fell to 80 cents a share from 85 cents a share a year earlier. Analysts surveyed by FactSet expected 76 cents a share in adjusted profit, at the mid-range of Applied's forecast.

REVENUE: Net sales edged down 0.1% to $3.75 billion a year earlier, ahead of analysts' projected $3.68 billion.

CHINA: Net sales in China, the largest market that accounted for about 32% of sales in the quarter, rose 6% to $1.2 billion.

OUTLOOK: This quarter, Applied projects 87 cents to 95 cents a share in adjusted profit and about $4.1 billion in revenue, compared with analysts' projected 74 cents a share and $3.71 billion in revenue.

CEO: "Applied Materials' fourth quarter results reflect a healthy uptick in demand for semiconductor equipment, combined with strong execution across the company," Chief Executive Gary Dickerson said in a statement. "The semiconductor industry is increasingly adopting a new playbook for improving chip performance, power, area and cost, and we are investing in unique solutions to enable our customers' success in the AI-Big Data era."

KOKUSAI: Applied didn't address in an earnings statement the proposed acquisition of semiconductor-equipment supplier Kokusai Electric Corp. The deal is subject to review by regulators in China, South Korea, Taiwan, Japan, Ireland and Israel.


Write to Maria Armental at


(END) Dow Jones Newswires

November 14, 2019 16:24 ET (21:24 GMT)

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

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