Applied Materials Says Supply-Chain Shortages Pressured 4Q Revenue

   By Maria Armental

Applied Materials Inc. said sales in the most recent quarter missed Wall Street targets due to supply-chain challenges.

Chief Executive Gary Dickerson said the company expects short-term supply shortages of certain silicon components.

Shares fell 8% to $146 in after-hours trading.

Profit for the quarter ended Oct. 31 rose to $1.71 billion from $1.13 billion a year earlier. On a per-share basis, profit was $1.89, or $1.94 as adjusted.

Applied Materials expected an adjusted profit of $1.87 to $2.01 a share; while analysts surveyed by FactSet expected $1.93 a share, or $1.96 a share as adjusted.

Net sales for the quarter rose to $6.12 billion, from $4.69 billion a year earlier, at the low-end of the company's guidance and short of analysts' projected $6.38 billion.

The chip-making equipment manufacturer ended the year at a $5.89 billion profit on $23.06 billion in sales, compared with a profit of $3.62 billion and $17.2 billion in sales a year earlier.

Write to Maria Armental at maria.armental@wsj.com

(END) Dow Jones Newswires

November 18, 2021 16:28 ET (21:28 GMT)

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