Why Applied Materials, Inc. Is Down 2% After Hours
Revenue guidance light
Applied Materials, Inc. (AMAT) is down 2% in the after-hours trading session following the release of its fiscal 2018 second-quarter earnings results. The company reported revenue of $4,567 million and non-GAAP adjusted diluted EPS of $1.22, which easily beat analysts’ expectations of $4,452 million in revenue and $1.14 in adjusted EPS.
On a year-over-year basis, Applied Material’s revenue increased 28.8% and its non-GAAP diluted adjusted EPS increased 54.4%, driven by strong demand for its
Following the quarterly breakdown, the company provided its outlook on the third quarter, and it came mixed compared with analysts’ expectations; here’s a breakdown:
- Revenue in the range of $4.33 billion-$4.53 billion, which came up short of analysts’ expectations of $4,533 million
- Non-GAAP adjusted diluted EPS in the range of $1.13-$1.21, which came in-line with analysts’ expectations of $1.16
Be careful of these stocks with the earnings cliffs approaching.