Applied Materials Inc. Q4 adjusted earnings Miss Estimates

(RTTNews) - Applied Materials Inc. (AMAT) revealed earnings for its fourth quarter that rose from last year.

The company's bottom line came in at $1.71 billion, or $1.89 per share. This compares with $1.13 billion, or $1.23 per share, in last year's fourth quarter.

Excluding items, Applied Materials Inc. reported adjusted earnings of $1.76 billion or $1.94 per share for the period.

Analysts had expected the company to earn $1.95 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 30.5% to $6.12 billion from $4.69 billion last year.

Applied Materials Inc. earnings at a glance:

-Earnings (Q4): $1.76 Bln. vs. $1.15 Bln. last year. -EPS (Q4): $1.94 vs. $1.25 last year. -Analysts Estimate: $1.95 -Revenue (Q4): $6.12 Bln vs. $4.69 Bln last year.

-Guidance: Next quarter EPS guidance: $1.78 to $1.92