Applied Materials' 4Q Results, 1Q Guidance Beat Wall Street Forecasts -- Earnings Review
November 14 2019 - 4:39PM
Dow Jones News
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 maria.armental@wsj.com
(END) Dow Jones Newswires
November 14, 2019 16:24 ET (21:24 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
Applied Materials (NASDAQ:AMAT)
Historical Stock Chart
From Aug 2024 to Sep 2024
Applied Materials (NASDAQ:AMAT)
Historical Stock Chart
From Sep 2023 to Sep 2024