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Applied Materials Posts Q1 Earnings Beat, Shatters Previous Orders Record
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Applied Materials, Inc. (AMAT - Free Report) just released its first quarter financial results in 2017, posting earnings of $0.67 and revenues of $3.27 billion.
Currently, Applied Material is a Zacks Rank #3 (Hold), and is up 0.74% to $35.49 per share in trading shortly after its earnings report was released.
Beat earnings estimates. The company posted earnings of $0.67 (excluding $0.02 from non-recurring items), beating the Zacks Consensus Estimate of $0.66 per share.
Beat revenue estimates. The company saw revenue figures of $3.27 billion, beating our consensus estimate of $3.26 billions.
For Applied Materials' Q1 ended January 29, 2017, new orders of $4.24 billion, not only increased 86% year-over-year but it also hit a new record. Net sales also grew 45% year-over-year. With the two new records, the company was able to generate $646 million in cash from operations and returned $238 million to shareholders through stock repurchases and cash dividends.
“We set new records for earnings and orders in our first quarter, and 2017 is shaping up to be an outstanding year for Applied Materials,” said President and CEO, Gary Dickerson. “Our inflection-focused innovation strategy is delivering results and we are increasingly confident that we can maintain our trajectory of sustainable growth and raise the ceiling on your performance.”
Applied Materials develops, manufactures, markets and services semiconductor wafer fabrication equipment and related spare parts for the worldwide semiconductor industry. Customers for these products include semiconductor wafer manufacturers and semiconductor integrated circuit manufacturers, who either use the Ics they manufacture in their own products or sell them to other companies. These ICs are the key components in most advanced electronic products such as computers, telecommunications devices, automotive engine management systems and electronic games.
Check back later for our full analysis on Applied Material’s earnings report!
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Applied Materials Posts Q1 Earnings Beat, Shatters Previous Orders Record
Applied Materials, Inc. (AMAT - Free Report) just released its first quarter financial results in 2017, posting earnings of $0.67 and revenues of $3.27 billion.
Currently, Applied Material is a Zacks Rank #3 (Hold), and is up 0.74% to $35.49 per share in trading shortly after its earnings report was released.
Beat earnings estimates. The company posted earnings of $0.67 (excluding $0.02 from non-recurring items), beating the Zacks Consensus Estimate of $0.66 per share.
Beat revenue estimates. The company saw revenue figures of $3.27 billion, beating our consensus estimate of $3.26 billions.
For Applied Materials' Q1 ended January 29, 2017, new orders of $4.24 billion, not only increased 86% year-over-year but it also hit a new record. Net sales also grew 45% year-over-year. With the two new records, the company was able to generate $646 million in cash from operations and returned $238 million to shareholders through stock repurchases and cash dividends.
“We set new records for earnings and orders in our first quarter, and 2017 is shaping up to be an outstanding year for Applied Materials,” said President and CEO, Gary Dickerson. “Our inflection-focused innovation strategy is delivering results and we are increasingly confident that we can maintain our trajectory of sustainable growth and raise the ceiling on your performance.”
Here’s a graph that looks at Applied Material
Applied Materials, Inc. Price and Consensus
Applied Materials, Inc. Price and Consensus | Applied Materials, Inc. Quote
Applied Materials develops, manufactures, markets and services semiconductor wafer fabrication equipment and related spare parts for the worldwide semiconductor industry. Customers for these products include semiconductor wafer manufacturers and semiconductor integrated circuit manufacturers, who either use the Ics they manufacture in their own products or sell them to other companies. These ICs are the key components in most advanced electronic products such as computers, telecommunications devices, automotive engine management systems and electronic games.
Check back later for our full analysis on Applied Material’s earnings report!
Stocks that Aren't in the News. Yet.
You are invited to download the full, up-to-the-minute list of 220 Zacks Rank #1 "Strong Buys" free of charge. Many of these companies are almost unheard of by the general public and just starting to get noticed by Wall Street. They have been pinpointed by the Zacks system that nearly tripled the market from 1988 through 2015 with a stellar average gain of +26% per year. See these high-potential stocks free >>