Applied Materials Inc. Q3 Profit Increases, Beats Estimates

(RTTNews) - Applied Materials Inc. (AMAT) reported a profit for its third quarter that increased from last year and beat the Street estimates.

The company's earnings came in at $1.705 billion, or $2.05 per share. This compares with $1.560 billion, or $1.85 per share, in last year's third quarter.

Excluding items, Applied Materials Inc. reported adjusted earnings of $1.767 billion or $2.12 per share for the period.

Analysts on average had expected the company to earn $2.02 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 5.5% to $6.778 billion from $6.425 billion last year.

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

-Earnings (Q3): $1.705 Bln. vs. $1.560 Bln. last year. -EPS (Q3): $2.05 vs. $1.85 last year. -Revenue (Q3): $6.778 Bln vs. $6.425 Bln last year.

-Guidance: Next quarter EPS guidance: $2.00 to $2.36 Next quarter revenue guidance: $6.53 - $7.33 bln