Applied Materials (AMAT) Tops Q1 EPS by 23c; offers Q2 guidance

Applied Materials (NASDAQ: AMAT) reported Q1 EPS of $2.13, $0.23 better than the analyst estimate of $1.90. Revenue for the quarter came in at $6.71 billion versus the consensus estimate of $6.48 billion.

GUIDANCE:

Applied Materials sees Q2 2024 EPS of $1.79-$2.15, versus the consensus of $1.78. Applied Materials sees Q2 2024 revenue of $6.5 billion, plus or minus $400 million versus the consensus of $6.329 billion.

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.

For earnings history and earnings-related data on Applied Materials (AMAT) click here.

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