Applied Materials Inc. Q1 Profit Decreases, But Beats Estimates

(RTTNews) - Applied Materials Inc. (AMAT) revealed earnings for first quarter that decreased from the same period last year but beat the Street estimates.

The company's earnings totaled $1.185 billion, or $1.45 per share. This compares with $2.019 billion, or $2.41 per share, last year.

Excluding items, Applied Materials Inc. reported adjusted earnings of $1.946 million or $2.38 per share for the period.

Analysts on average had expected the company to earn $2.30 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period rose 6.8% to $7.166 billion from $6.707 billion last year.

Applied Materials Inc. earnings at a glance (GAAP) :

-Earnings: $1.185 Bln. vs. $2.019 Bln. last year. -EPS: $1.45 vs. $2.41 last year. -Revenue: $7.166 Bln vs. $6.707 Bln last year.

-Guidance: Next quarter EPS guidance: $2.12 - $2.42 Next quarter revenue guidance: $6700 - $7500 Mln