Applied Materials (AMAT) Posts Q4 Earnings Beat, Revenue Climbs 20%
Applied Materials, Inc. (AMAT) just released its fiscal fourth-quarter financial results, posting non-GAAP earnings of 93 cents per share and revenues of $3.97 billion.
Currently, AMAT is a Zacks Rank #2 (Buy) and is down 1.42% to $57.02 per share in after-hours trading shortly after its earnings report was released.
Beat earnings estimates. The company posted non-GAAP earnings of $0.93 per diluted share, beating the Zacks Consensus Estimate of $0.91.
Beat revenue estimates. The company saw revenue figures of $3.97 billion, beating our consensus estimate of $3.93 billion.
Total revenue was up about 20% year-over-year, while non-GAAP operating income advanced 37%. On a GAAP basis, the company reported earnings of 91 cents per share.
“Fiscal 2017 was a record-breaking year for the company. We have great momentum and we’re confident that in 2018 we can deliver strong double-digit growth across our semiconductor, display and service businesses,” said CEO Gary Dickerson.
In the first quarter of fiscal 2018, Applied expects net sales to be in the range of $4.00 billion to $4.20 billion. Management also expects non-GAAP adjusted diluted EPS to be in the range of $0.94 to $1.02. Our current consensus estimates are calling for revenues of $3.96 billion and earnings of 91 cents.
Here’s a graph that looks at Applied Material’s earnings surprise history:
Applied Materials, Inc. expertise in modifying materials at atomic levels and on an industrial scale enables customers to transform possibilities into reality. The Company offer consulting, spare parts, services, automation software, upgrades and legacy equipment to improve the performance and productivity of the customer’s equipment and fab operations.
Check back later for our full analysis on AMAT’s earnings report!
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