AMAT Beats By a Penny in Q3 But Misses On Top Line

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AMAT Beats By a Penny in Q3 But Misses On Top Line

by TheStreet 0:55 mins

AMAT Beats By a Penny in Q3 But Misses On Top Line

by TheStreet 0:55 mins

Applied Materials posted third quarter earnings of 28 cents a share on revenue of $2.27 billion. Wall Street analysts were looking for 27 cents a share on sales of $2.29 billion. Last year, the semiconductor equipment supplier earned 18 cents a share on $1.98 billion in revenue. Drilling down a bit further, AMAT’s Silicon Systems Group orders were $1.57 billion, down 6%, with decreases in DRAM and foundry. Display orders of $296 million were down 13% but remained at high levels reflecting continued demand for TV production capacity. Applied`s backlog grew 9% sequentially to $2.97 billion. TheStreet's Gregg Greenberg has details from New York.

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Market Movers

  1. 13:06

    Bulls' big push; Disney soars; Panera's pantry cleanse

  2. 1:49

    Disney does it again; Sprint subscribers grow; Tesla jumps on bullish target

  3. 2:26

    T-Mobile's new tactic to lure Verizon customers

  4. 2:36

    Panera Bread cleans out its pantry

  5. 3:28

    Disney's profit and revenue soar

  6. 14:14

    Investors focus on jobs/Fed; McDonald's turnaround plan; Tesla's used cars