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 $1.89 on revenue of $6.27B. Analysts polled by Investing.com anticipated EPS of $1.86 on revenue of $6.19B.
Applied Materials shares are down 10% from the beginning of the year, still down 15.62% from its 52 week high of $167.06 set on January 14. They are under-performing the S&P 500 which is down 6.09% from the start of the year.
Applied Materials follows other major Information Technology sector earnings this month
Applied Materials's report follows an earnings beat by Apple on January 27, who reported EPS of $2.1 on revenue of $123.95B, compared to forecasts EPS of $1.9 on revenue of $119B.
Microsoft had beat expectations on January 25 with second quarter EPS of $2.48 on revenue of $51.73B, compared to forecast for EPS of $2.32 on revenue of $50.74B.
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