Investing.com - Applied Materials (NASDAQ:AMAT) reported on Wednesday first quarter earnings that beat analysts' forecasts and revenue that topped expectations.
Applied Materials announced earnings per share of $0.98 on revenue of $4.16B. Analysts polled by Investing.com anticipated EPS of $0.91 on revenue of $4.09B. That with comparison to EPS of $0.81 on revenue of $3.75B in the same period a year before. Applied Materials had reported EPS of $0.8 on revenue of $3.75B in the previous quarter. Analysts are expecting EPS of $0.91 and revenue of $4.05B in the upcoming quarter.
Applied Materials shares are up 7.18% from the beginning of the year , still down 0.35% from its 52 week high of $65.65 set on February 12. They are broadly in line with the Nasdaq which is up 7.59% year to date.
Applied Materials follows other major Technology sector earnings this month
Applied Materials's report follows an earnings beat by Apple on January 28, who reported EPS of $4.99 on revenue of $91.82B, compared to forecasts EPS of $4.54 on revenue of $88.51B.
Microsoft had beat expectations on January 29 with second quarter EPS of $1.51 on revenue of $36.91B, compared to forecast for EPS of $1.05 on revenue of $32,512M.
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