Chip Gear Giant Applied Materials Delivers Beat And Raise Earnings Report

Applied Materials beats estimates for Q2

Financial highlights

• Adjusted earnings per share: $2.12, up from $2.05 in the previous quarter and beating estimates of $1.99.
• Revenue: $6.78 billion, up from $6.72 billion in the previous quarter and beating estimates of $6.54 billion.

Key drivers

The strong results were driven by continued demand for semiconductor equipment, particularly DRAM gear.

Outlook

Applied Materials is forecasting a profit in the range of $2.02 to $2.36 per share for the third quarter, with a midpoint of $2.19.

Analyst commentary

"Applied Materials' Q2 results were strong, driven by continued demand for semiconductor equipment," said analyst Mehdi Hosseini of Susquehanna Financial Group. "The company's guidance for Q3 is also strong, indicating that the demand environment remains healthy."