Applied Materials (AMAT) Tops Q2 EPS by 10c, Offers Guidance
Applied Materials (NASDAQ: AMAT) reported Q2 EPS of $2.09, $0.10 better than the analyst estimate of $1.99. Revenue for the quarter came in at $6.65 billion versus the consensus estimate of $6.54 billion.
GUIDANCE:
Applied Materials sees Q3 2024 EPS of $1.83-$2.19, versus the consensus of $1.83. Applied Materials sees Q3 2024 revenue of $6.65 billion at midpoint, versus the consensus of $6.08 billion.
- In the third quarter of fiscal 2024, Applied expects net revenue to be approximately $6.65 billion, plus or minus $400 million. Non-GAAP diluted EPS is expected to be in the range of $1.83 to $2.19.
- This outlook for non-GAAP diluted EPS excludes known charges related to completed acquisitions of $0.01 per share and includes the normalized tax benefit of share-based compensation of $0.01 per share and includes a net income tax benefit related to intra-entity intangible asset transfers of $0.02 per share, but does not reflect any items that are unknown at this time, such as any additional charges related to acquisitions or other non-operational or unusual items, as well as other tax-related items, which we are not able to predict without unreasonable efforts due to their inherent uncertainty.
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