Applied Materials Inc. Q4 Profit Decreases, But Beats Estimates

(RTTNews) - Applied Materials Inc. (AMAT) announced earnings for fourth quarter that decreased from last year but beat the Street estimates.

The company's earnings totaled $1.73 billion, or $2.09 per share. This compares with $2.00 billion, or $2.38 per share, in last year's fourth quarter.

Excluding items, Applied Materials Inc. reported adjusted earnings of $1.92 billion or $2.32 per share for the period.

Analysts on average had expected the company to earn $2.19 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 4.8% to $7.045 billion from $6.723 billion last year.

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

-Earnings (Q4): $1.73 Bln. vs. $2.00 Bln. last year. -EPS (Q4): $2.09 vs. $2.38 last year. -Revenue (Q4): $7.045 Bln vs. $6.723 Bln last year.

-Guidance: Next quarter EPS guidance: $2.11 - $2.47 Next quarter revenue guidance: $6.750 - $7.550 Bln