Applied Materials Earnings Beat Expectations. Why the Stock Is Down.
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Applied Materials gave a slightly disappointing outlook alongside its latest earnings report, driving its shares lower in after-hours trading Thursday. The chip-equipment maker reported adjusted earnings of $2.39 a share for the April quarter, compared with the consensus estimate of $2.31 a share among Wall Street analysts tracked by FactSet. “High-performance, energy-efficient AI computing remains the dominant driver of semiconductor innovation, and Applied is working closely with our customers and partners to accelerate the industry’s roadmap,” Applied Materials CEO Gary Dickerson said in the earnings release.
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