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

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

Applied Materials pops on strong FQ1; analyst considers it 'top undiscovered AI play'

February 15, 2024 4:25 PM EST

Applied Materials (NASDAQ: AMAT) reported better-than-expected FQ1 2024 results and released a strong outlook for the April quarter, resulting in a 13% surge in its shares in premarket trading Friday.

The materials engineering solutions provider posted earnings per share (EPS) of $2.13 for the quarter, exceeding analyst expectations of $1.90. Revenue grew to $6.71 billion, outpacing the consensus estimate of $6.48... More