Applied Materials: Fiscal 4Q Earnings Snapshot
SANTACLARA, Calif. (AP) _ Applied Materials Inc. (AMAT) on Thursday reported fiscal fourth-quarter profit of $876 million.
On a per-share basis, the Santaclara, California-based company said it had profit of 89 cents. Earnings, adjusted for non-recurring costs, were 97 cents per share.
The results beat Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 96 cents per share.
The maker of chipmaking equipment posted revenue of $4.01 billion in the period, also topping Street forecasts. Seven analysts surveyed by Zacks expected $4 billion.
For the year, the company reported profit of $3.31 billion, or $3.23 per share. Revenue was reported as $17.25 billion.
For the current quarter ending in February, Applied Materials expects its per-share earnings to range from 75 cents to 83 cents.
The company said it expects revenue in the range of $3.56 billion to $3.86 billion for the fiscal first quarter. Analysts surveyed by Zacks had expected revenue of $3.99 billion.
Applied Materials shares have fallen 32 percent since the beginning of the year, while the Standard & Poor’s 500 index has risen nearly 2 percent. In the final minutes of trading on Thursday, shares hit $34.96, a drop of 37 percent in the last 12 months.