Applied Materials Inc. Reports Strong Fiscal First Quarter Results
Applied Materials Inc., a leading chip-equipment company, announced impressive fiscal first quarter results on Thursday afternoon, causing its stock to surge in after-hours trading.
Net Income:
The company reported a net income of $2.02 billion, or $2.41 per share, for the fiscal first quarter. This is an increase from the $1.72 billion, or $2.02 per share, recorded in the same quarter of the previous year.
Adjusted Basis:
On an adjusted basis, Applied Materials Inc. … (details to be mentioned later in the article)
The strong financial performance of Applied Materials Inc. indicates a positive outlook for the chip-equipment industry. This news is likely to have a significant impact on the company's stock value in the days to come.
Analyst comment
This news is positive. The upbeat results and guidance indicate strong performance for Applied Materials Inc. The stock is expected to continue surging in the market.
