Applied Materials' 3Q Profit, Sales Beat Wall Street Estimates
August 19 2021 - 4:33PM
Dow Jones News
By Maria Armental
Applied Materials Inc.'s third-quarter performance beat Wall
Street projections as sustained demand helped by the pandemic's
boost to digital transformation helped drive record quarterly
revenue and per-share profit.
Third-quarter profit rose to $1.72 billion from $841 million a
year earlier. On a per-share basis, profit was a record $1.87, or
$1.90 as adjusted, also a record, the company said.
Net sales rose to a record $6.2 billion from $4.4 billion a year
earlier.
The chip-making equipment manufacturer expected an adjusted
profit of $1.70 to $1.82 a share and $5.72 billion to $6.12 billion
in net sales. Analysts surveyed by FactSet expected $1.74 a share,
or $1.77 a share as adjusted, and $5.94 billion in revenue.
"Applied Materials delivered record performance as long-term
trends fueled by the digital transformation of the economy drive
strong, secular demand for semiconductors," Chief Executive Gary
Dickerson said in a statement.
Write to Maria Armental at maria.armental@wsj.com
(END) Dow Jones Newswires
August 19, 2021 16:24 ET (20:24 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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