5 Earnings Reports You Don’t Want to Miss

2. Applied Materials, Inc. (NASDAQ:AMAT)

Number of Hedge Fund Holders: 78

Applied Materials, Inc. (NASDAQ:AMAT) recently delivered solid profit and sales for its fiscal first quarter. However, its shares turned red on Thursday, February 17, apparently on a weak sales outlook.

The semiconductor equipment supplier earned $1.89 per share on an adjusted basis, ahead of the consensus forecast of $1.86 per share. Revenue for the quarter jumped 21 percent versus last year to $6.27 billion, while analysts expected Applied Materials, Inc. (NASDAQ:AMAT) to post revenue of $6.19 billion.

Looking forward, Applied Materials, Inc. (NASDAQ:AMAT) expects adjusted earnings in the range of $1.75 – $2.05 per share on revenue of around $6.35 billion for its fiscal second quarter. On the other hand, analysts were looking for earnings of $1.94 per share on revenue of $6.37 billion for the current quarter.

Speaking on the results, CEO Gary Dickerson said:

“While the supply environment remains challenging, Applied Materials is doing everything we can to deliver for our customers and we recorded our highest-ever quarterly revenues. Our outlook for 2022 and beyond is very positive as long-term secular trends drive our markets structurally higher and Applied’s broad technology portfolio puts us in a great position to capture a larger portion of our served markets.”