Applied Materials Inc. Q3 Profit Beats Estimates

(RTTNews) - Applied Materials Inc. (AMAT) reported a profit for third quarter that beat the Street estimates.

The company's bottom line came in at $1.56 billion, or $1.85 per share. This compares with $1.61 billion, or $1.85 per share, in last year's third quarter.

Excluding items, Applied Materials Inc. reported adjusted earnings of $1.60 billion or $1.90 per share for the period.

Analysts on average had expected the company to earn $1.74 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 1.5% to $6.42 billion from $6.52 billion last year.

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

-Earnings (Q3): $1.56 Bln. vs. $1.61 Bln. last year. -EPS (Q3): $1.85 vs. $1.85 last year. -Analyst Estimates: $1.74 -Revenue (Q3): $6.42 Bln vs. $6.52 Bln last year.

-Guidance: Next quarter EPS guidance: $1.82 - $2.18 Next quarter revenue guidance: $6.11 - $6.91Bln