Applied Materials Beats on Q1 Revenue, EPS
Applied Materials exceeded estimates in its just-released fiscal Q1 2013 results. For the quarter, the company brought in $1.57 billion in net sales and posted a non-GAAP net profit of $69 million ($0.06 per diluted share). That top line was lower than the $1.65 billion in the same quarter last year, while net was roughly flat.
The recent quarter's results topped analyst estimates, however. Expectations were for $1.56 billion in revenue and EPS of $0.03.
Applied Materials' guidance for its current quarter also surprised on the upside. The company anticipates that its sales will amount to $1.81 billion to $1.96 billion, and EPS will be $0.09 to $0.15 for the period. Analysts had been projecting $1.81 billion and $0.11, respectively.
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