Applied Materials revenue reaches $9.1 billion
Applied Materials reported record revenue of $9.1 billion, up 25% year over year. The company’s non-GAAP earnings per share rose 41% to $3.50.
The chip-equipment maker’s operating income and operating cash flow also set records, with the latter topping $3 billion. Management guided fiscal fourth-quarter revenue to $10.25 billion, plus or minus $500 million.
The stock fell about 5% in after-hours trading despite the strong earnings report. The company’s growth is accelerating, with revenue rising 15% sequentially, the highest quarter-on-quarter growth in its history.
The strong earnings report and guidance suggest a positive outlook for the company, but the market reaction was negative, indicating a potential disconnect between the company’s performance and investor expectations.