Applied Materials Offers Upbeat Outlook Following Q2 Results Beat By Investing.com

By Yasin Ebrahim

Applied Materials (NASDAQ:AMAT) reported Thursday fiscal second-quarter results that beat analysts’ forecasts, and delivered a stronger outlook on the third quarter amid increasing chip demand.

The company guided Q3 adjusted EPS in a range of $1.70 to $1.82 on net sales of approximately $5.92B, give or take $200M, topping consensus of $1.55 and $5.53 billion, respectively.

Applied Materials announced earnings per share of $1.63 on revenue of $5.58B. Analysts polled by Investing.com anticipated EPS of $1.51 on revenue of $5.4B.

“We are confident in our ability to outperform our markets as large, secular trends create sustainable demand for semiconductors and our leadership in materials engineering becomes increasingly critical to deliver new chip technologies,” the company said.

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